Title: Canceling Insurance Coverage for FGCU Buildings
FloridaGulfCoastUniversity
Department of Environmental Health and Safety
Risk Management and Insurance
Procedure No. 2.2
Issue Date: November 17, 2006
Title: Canceling Insurance Coverage for FGCU Buildings
Purpose:
Demolition of a campus building is an uncommon event. When notified of a building sale or demolition, canceling propertyinsurance coverage under the Fire Insurance Trust Fund for buildings EHS shall notified the Department of Financial Services to remove building from coverage.
General overview:
The Fire Insurance Trust Fund is the state self-insurance program covering state owned buildings against fortuitous losses.
Covered causes of losses include:
Fire Smoke
LightningRiot or Civil Commotion
ExplosionSinkhole Collapse
Windstorm or HailFlood
Responsibilities:
Environmental Health and Safety has the primary responsibility of canceling property insurance coverage for buildings and contents for demolished or non-owned buildings on FGCU campus or off campus by notifying the Department of Financial Services.
The Facilities planningdepartment shall notify Assistant Director of Environmental Health and Safetywhen demolition or sale of campus building with no intention of replacing.
University Space coordinator shall notify Assistant Director of Environmental Health and Safety the building specifications of demolished or sold campus building.
FGCU Property department shall notify Assistant Director of Environmental Health and Safety where the contents of demolished or sold building contents will be residing.
Procedures for canceling insurance for building:
- Receive notification from Facilities Planning departmentnotifying EHS of the demolition or sale of campus building to remove insurance coverage from building.
- Request and receive from FGCU space coordinator,in writing, the gross square footage and construction year of building that will be taken off university space file.
- Request and receive from Finance and Accounting, in writing, the value and new location of transferred contents in order to update the location of where contents will reside.
- Update and submit to Department of Financial property schedule deleting building and update content value of transferred contents to new location, if any.
- Review property schedule for accuracy and completeness when received from the Department of Financial Services.
Form:
No specific form is available, but completed property schedule requesting changes needs to be completed.
Contact:
Willie Baca
Assistant Director, EHS – Risk Management and Insurance
239-590-1126 Office
239-590-1033 Fax