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Disaster Recovery Plan
Insurance Coverage
(DRPPUR04)

Last update: Tuesday, 21-Mar-2000 10:35:32 CST

BUILDING AND PROPERTY INSURANCE: Currently, the University of Arkansas System carries insurance coverage provided by Safeguard Insurance Company - through Rebsamen Insurance Agency, of Little Rock (501-661-4800 voice, 501-666-9592 fax). Mr. Jim A. Jowers, Vice President, is the authorized Agent's Representative. The Director of Risk Management for the Fayetteville campus is James Ezell in the UA Fayetteville Business Manager's Office.

The insurance provides very comprehensive coverage. Not only are the cost of restoring a damaged facility and equipment covered, loss of business income and the extra expenses incurred in equipping and operating a replacement or temporary facility are also covered. Varying coverage limitations are in effect, as are deductables. Please refer to the actual insurance policy for specific details. 


   COVERAGE                                       LIMITS

   Replacement Cost Building              $1,359,859,940
   and Property (based on values
   on file July 1, 1996)

                                              SUB-LIMITS

   Blanket Business Income                $    5,000,000

   Business Income (Men's Athletics       $   19,030,794
     Fayetteville campus)

   Business Income (UAMS)                 $  174,439,302

   Blanket "Rents"                        $    5,000,000

   Blanket "Tuition and Fees"             $   20,000,000

   Off-Premises Services                  $      250,000

   Property in Transit                    $    1,000,000

   "Extra Expense"                        $    5,000,000

   Consequential Loss                     $      100,000

   Accounts Receivable                    $    5,000,000

   Cost of Research and Restoration       $    5,000,000
     of "Valuable Papers"

   Exhibitions Including Transit          $    1,000,000

   Inventory or Appraisal                 $      100,000

   Ordinance or Law Coverage              $      250,000

   Loss to Objects                        $  100,000,000

   Ammonia Contamination                  $      100,000

   Water Damage                           $      100,000

   Expediting Expense                     $      100,000

   At newly acquired location(s), if      $    5,000,000
     reported within 90 days

   New Construction-Builder's Risk

     Nonreported                          $    5,000,000

     Reported (within 90 days)            $   20,000,000

   At any other location(s)               $      100,000


   DEDUCTIBLE AMOUNT                              LIMITS

   "Earthquake"                           $       25,000

   "Flood"                                $       25,000

   Back-up of sewer(s) or drain(s)        $       25,000

   "Loss to Objects"                      $       25,000

   EDP Equipment and Media                $        2,500

   New Construction-Builder's Risk        $        2,500

   Fine Arts                              $        2,500

   All Other Causes of Loss               $       10,000
CLAIMS PROCEDURES: As soon as possible after a loss, the Director of Risk Management and Insurance should be notified. If this individual cannot be reached, the University's insurance agent should be notified. The agent will then notify the insurance company. The insurance company will assign an adjuster, loss control engineer, and other experts to assist in the loss claim.

In the event of loss or damage, take all reasonable steps to protect the covered property from further damage. Also, keep a record of all expenses for emergency and temporary repairs which should be covered in the settlement.

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