Office of Risk Services
Department of Institutional Audit, Compliance and Risk Services
Northeastern University
360 Huntington Avenue
122 Saint Stephen Street
Boston, MA 02115
phone: 617.373.5997
fax: 617.373.8996
Developed byFiling a Property Claim
There are many steps that must be taken in the initial phase of a property loss which ensure smooth settlement of the claim down the road.
Thus, please explicitly adhere to the following instructions:
Reporting the Loss:
- Contact NUPD and file a report immediately.
- Notify facilities if clean up or repair is necessary.
- Notify Dean, Director or Department Head of affected department and Risk Services, who will then assess the loss to determine if it is an insurable loss and if so, notify the University's insurance broker and insurance company.
Steps to Limit Further Damage and Continue Essential Operations:
- Restore fire protection (sprinkler, burglar, fire alarms, etc.)
- Take digital pictures and videos.
- Make temporary /emergency repairs
- Keep detailed invoices from contractor and submit immediately to the Office of Risk Management.
- Keep detailed records of internal resources (employee name, duties, time and employee's per hour rate- include overtime, if applicable) and materials and equipment purchased.
- Secure buildings and contents (records, computer operations, etc.) Separate damaged from undamaged property.
- DO NOT THROW AWAY DAMAGED PROPERTY. All items must be approved for replacement by Risk Services and/or the insurance adjuster. Any items that are thrown away will not be approved for replacement.
- Involve Risk Services and/or insurance company claim adjuster in all long-term repairs to equipment and operations to ensure full reimbursement.
- For grant-funded activities, charge all lost time to the Office of Risk Services to ensure compliance with established grant and accounting requirements. See section on Operations Interruption for reporting and eligibility guidelines.
Claim Submission Procedures:
Policies
The policies below must be followed to ensure a timely reimbursement:
- All purchases that will require a purchase order must be submitted with a Requisition Request
- Provide vendor numbers whenever possible; if vendor is new, please note.
- All expenditures must be charged directly to the property damage account. Pro-cards are not to be used in ANY case. Likewise, it is unacceptable to replace items on departmental budget and then pursue reimbursement via journal entry.
- Extenuating circumstances must be approved by the Director of Risk Services. Any items purchased without approval will not be reimbursed.
- Items that require immediate replacement do not apply as an extenuating circumstance.
Personal Items
- Following approval, please replace items and complete Claim Form and have it signed by the individual overseeing replacements (ie. Department head, supervisor, Residence Director or Student Life representative).
- Employees will also have to fill out an Expense Reimbursement Voucher leaving the account section blank. Send forms and receipts to the Office of Risk Services,122 SS, Attention: Claims Manager
University Property
- Obtain repair estimates or replacement invoices from contractor/retailers and submit Property Damage Form with estimates to the Claims Manager for approval and funding.
Operations Interruption
When submitting a claim for operations interruption, please provide the following information:- What operation(s) are affected by loss?
- Is there interdependency with other operations?
- Is the shutdown of operations partial or total?
- What alternatives are there to continue affected operations?
- What will this cost?
- What steps can be taken to resume operations?
- Can rental equipment and/or overtime work be used to reduce the loss?
- Can the operation be continued at another location?
- Are there any immediate or short-term expenditures which could be made that would eliminate or reduce the operations interruption? If so, what are they and what do they cost?
Notify DISPA immediately of any loss that will affect grant funded work and submit claim prior to making any payroll or other related charges. Evaluation of the situation will need to be performed by the Office of Risk Management, accounting, DISPA and the insurance adjuster to determine eligibility for business interruption reimbursement.