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Risk Management & Insurance
University of Pennsylvania
Suite 421 Franklin Building
3451 Walnut Street
Philadelphia, PA 19104

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Office of Risk Management & Insurance

[ Property Insurance Claims ]

All University owned property and equipment is insured world wide under an All-Risk Property insurance policy. Property that is leased may be insured under this policy if so required under the lease agreement. No personal property is insured under this policy.

In the Event of a Loss (damage or theft)

  1. In the event of theft, immediately report the theft to the University Police.
    http://www.upenn.edu/police/

  2. For any kind of damage, loss, or theft, it is the department's responsibility to notify the University's Risk Management office within 72 hours of the discovery of loss, damage or theft. Please see the Incident Property Report.

  3. It is the department's responsibility to replace or repair all equipment damaged or stolen. A copy of the invoice and requisition or purchase order is to be sent to the Risk Management Department. A transfer of funds will be made to the department purchasing or repairing the stolen/damaged equipment.

  4. If damaged or stolen equipment is not repaired or replaced, claims or subsequent reimbursement will not be processed.

  5. Reimbursement for property loss or damage will be subject to various departmental deductibles. Generally, the affected department will be responsible for the first $5,000.00 per occurrence.

  6. The affected department is responsible for mitigating property loss. This includes protecting property from further damage and seeking repair of property prior to claiming replacement costs.

  7. When a University-owned personal computer or related hardware (e.g., a monitor, printer, external disk drive, etc.) is stolen, the department will not be entitled to reimbursement unless the equipment was secured with an approved security lock down device. If the equipment was appropriately secured, the department will be responsible for the first $5,000.00 of loss. Departments are responsible for obtaining Office of Risk Management approval for alternative security systems for University owned computers and related hardware.

*See Document/Forms for the Incident Report Property Form.

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