Treasurer's Office

University of Massachusetts > Treasurer's Office > Insurance

Insurance and Risk Management -- General Information

The Treasurer's Office is responsible for Risk Management and Insurance activities throughout the University. The Board of Trustees has designated the Treasurer (and or his designee) as the responsible party for all matters related to Insurance. The main activity of this function is to identify the various risks that face the University and take the necessary actions to manage those risks.
There are two general exposures which face the University of Massachusetts, as well as, other similar institutions. The first exposure is the potential for Liability which may arise as employees of the institution carry out their various duties. The employees and/or the institution could be held liable for actions which may cause bodily injury, personal injury, or property damage to others. The University manages many of these exposures through the purchase of various forms of Liability Insurance. These policies are designed to protect the institution and its employees for claims which may be presented. The following major policies provide protection for employees University-wide:

General Liability:
The University maintains a comprehensive General Liability policy with limits of $1,000,000 per occurrence and $3,000,000 in the aggregate. The policy also has a $50,000 deductible. The policy provides coverage for bodily injury and/or property damage to third parties that result from the University's negligence. The policy is underwritten by United Educators.

Directors and Officers/Employment Practices:
The University also maintains a Directors and Officers (D&O)/Employment Practices Liability (EPL) policy. The policy has a $3,000,000 aggregate limit. The policy also has a $250,000 retention related to D&O claims and a $500,000 retention related to EPL claims. The policy is underwritten by AIG.

Crime:
The University maintains a Commercial Crime Policy. This policy covers losses resulting from any dishonest or criminal act committed by a University member or any of the University's partners whether acting alone or in collusion with other persons. The policy has a $1,000,000 limit of liability and a $50,000 deductible. The policy is underwritten by Great American Insurance Group.

Automobiles:
Owned:
As of May 1, 2002 the University of Massachusetts became self-insured in accordance with Chapter 258 of the Massachusetts General Laws for automobile liability. This self-insurance applies to vehicles owned by the University.
Leased:
The University purchases Liability Insurance and Physical Damage Insurance (Collision and Comprehensive) for all leased vehicles. The title to a leased vehicle remains with the leasing company and, as a result, the University is required by the lessor to purchase insurance on the vehicle. This policy is underwritten by Hartford Insurance.

For a list of other polices that the University maintains please click on the following Master Schedule of Insurance. Please note, that not all policies listed on the summary are for the entire University system. Some are specific to a campus and/or specific program and department.

A Certificate of Insurance evidences University of Massachusetts insurance coverage. A University Certificate of Insurance may be requested by third parties involved with the operations of the University. If you would like to request a Certificate of Insurance, complete the attached Certificate of Insurance Request Form.

The University and its employees are further protected under Sovereign Immunity. Chapter 258 of the Massachusetts General Laws provides protection from claims of negligence while employees are acting within the scope of their employment.

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