Property Insurance
Insurance
Midwestern Higher Education Compact (MHEC) Master Property Program
Coverage
"All risks" property coverage including flood, earthquake, and boiler and machinery.
Territory
Worldwide except for loss or damage occurring in any country where trade relations are unlawful as determined by the Government of the United States or its agencies or other excluded jurisdictions. (Please call the BCN Risk Management Office for information regarding other excluded jurisdictions.)
Important Deductibles
- Department/institution deductible: $2,000 per occurrence
- NSHE deductible: $500,000 per occurrence with some exceptions
- Fine art deductible: $25,000 per occurrence
Important Peril Exclusions
- Fraudulent or dishonest acts by employees
- Ordinary wear and tear
- Normal settling and shrinkage
- Mysterious disappearance
Property Claims
The department/institution must contact the BCN Risk Management Office at (775) 784-6139 immediately in the event of a loss expected to exceed $50,000. Other property losses should be reported as soon as possible using the URM-003 (Property Loss Report). If the loss is not reported to the BCN Risk Management Office within 180 days from the date of loss or discovery; the claim may be denied. Once our office is contacted and we receive the Property Loss Report, we will open a claim file and begin the investigation. The department deductible is $2,000.
Claim/Property Forms
- URM-003 (Property Loss Report): Complete this form for theft or damage to NSHE property that exceeds $2,000 (excluding motor vehicles) and for reporting boiler and machinery losses that exceed $2,000.
- URM-008 (Add-Delete Property Form): Complete this form to add or delete a building from the NSHE building inventory
Disclaimer
The above information provides a brief overview of important policy considerations and frequently asked questions. Actual policy language must be consulted to evaluate coverage in the event of a property loss.