Business Services
Insurance
The Department of Business Services is responsible for management of the following types of insurance: Property, Professional Liability, Automobile Liability, and General Liability. In addition to these primary types of insurance there are numerous miscellaneous insurance needs that are managed through this office.Miami University participates in the Inter-University Counsel Insurance Consortium (IUC-IC). This consortium was formed to coordinate the purchase of property and liability insurance for many of Ohio 's public universities. Participating in a pooled insurance arrangement allows the institutions to achieve together--through collaboration and cooperation--what institutions may be unable to achieve alone.
A summary of the coverage provided is provided below:
All Risk Property, Extra Expense and Boiler & Machinery
Covers direct physical loss of or damage to all real and personal property not otherwise excluded in which the university has an insurable interest and the cause of which is the result of an insured peril. Deductibles vary between $25,000 and $100,000 depending on category of property. University owned computer equipment is covered under a pooled arrangement. Privately owned property is not covered by this policy.
Auto Liability
Provides bodily injury and property damage liability protection for damages resulting from the ownership, maintenance, use, loading or unloading of a covered auto.
Commercial General Liability
Provides general liability protection, subject to varying terms, conditions and limits for bodily injury and property damage liability, personal injury liability, advertising injury liability and medical expenses.
Educators Legal Liability
Provides coverage for damages resulting from alleged wrongful acts, errors or omissions for which the university is legally obligated to pay on account of any claim brought against them not otherwise excluded under the policy.
Foreign Liability
Protects against general liability exposures occurring outside the United States, its territories and possessions, Puerto Rico and Canada. Also provides for emergency services to employees traveling overseas on University sponsored business.
Umbrella Excess Liability
This insuring agreement provides additional liability protection for bodily injury and property damage beyond that covered by the institution's basic underlying insurance.