Risk Management

What We Do

Centralized university services provided by Risk Management include:

Risk identification
Insurance negotiations and purchase
Contract review
Certificates of Insurance
Claims administration
Risk management consultations
Loss control and loss prevention assessments
Facilities and site surveys

The department is also charged with compliance responsibilities with regard to regulatory agencies which govern insurance and other risk management programs. Additionally, the department is the University’s liaison to, and a member of the board of directors of, the Michigan Universities Self-Insurance Corporation (M.U.S.I.C.), a separate entity which was co-founded by 12 of the 13 public Universities in the state of Michigan, including EMU.

Damage/Theft of University Property

The university covers university-owned property against damage and theft, subject to a deductible. Items originally purchased from a General Fund account are subject to a $500 deductible, and items originally purchased from an Auxiliary Fund account are subject to a $50,000 deductible to be paid by the department experiencing the loss.

Procedures for Submitting an Insurance Claim to Replace University-Owned Property

The department that experienced the loss of property should report the incident to the Department of Public Safety (DPS).
Departments should report the incident to Risk Management, utilizing the property loss claim form along with a copy of the original purchase order.
Departments may collect funds to replace property contingent upon the following conditions:
- Department exercised care, custody and control of lost property.
- Department is replacing lost property with same or like/kind and quality.
The amount the Department may collect is determined by various conditions, including but not limited to:
- Remaining useful life of lost property. Generally, property is depreciated based upon a 10-year life.
- The department may collect an amount equal to the prorated replacement cost (remaining life of loss property will be considered in the proration) less the deductible.

Non-University Owned/Personal Property

The university does not provide insurance coverage for the personal items of students, faculty or staff. Personal items might be covered under a homeowner’s or renter’s insurance policy.