All Risk Insurance Policy

Welcome to this page. It gives you background information relating to our ‘All Risks’ Policy. It also provides some background on the procedures for making a claim under the policy.

We’ve provided a ‘Frequently asked questions’ guide about the ‘All Risks’ policy. Please see in the links box below for this guide.

Managing your risks

We’ve provided a self-assessment guide for you to complete on managing risks covered by the ‘All Risks’ Policy.  This will help prevent claims. It will also support us in proving that departments looked to reduce the chances of loss should thefts occur. You will find this in the links box below.

Why do we have this policy?

The main reason for this cover is to insure items of equipment that get stolen. These include things like projectors, video cameras and laptops.  The policy covers only USP-owned property.

What are the main policy terms I should be aware of?

The policy covers a maximum of 25,000 FJD for each loss and 200,000 FJD in the annual aggregate.

  • If item value is 5,000 FJD or less, the excess is 500 FJD.
  • If item value is above 5,000 FJD, the excess is 1,000 FJD.

USP is required to meet the excess amount of any loss we suffer. These limits mean:

  • Any item with a value under 500 FJD is not insured.
  • Where the value of any single item exceeds 25,000FJD, any amount over 25,000 FJD is not covered.

Basis of settlement is indemnity (subject to depreciation).

How do I report incidents insured under the “All Risk” policy?

  • On campus: You need to report the loss to USP Campus Security or your Regional Campus Director. They will arrange any reporting to the police as per the USP policy.
  • Off campus: You should report any theft to the police and your USP departments as per USP policy.

How do I submit details for any claim?

  • Report any incidents to the Risk and Insurance Unit. (After business hours, the incident must be notified on the next business day.)
  • The Risk and Insurance Unit will review if we are eligible to claim. The Unit will provide you with a list of required documents. You will also be given a deadline for submitting them. This deadline must be met as insurers set deadlines on receiving claim information. Settlements also require compliance with policy terms and conditions on providing information.

When should I replace my lost item?

It is a school/department responsibility/decision to replace any item using your funds. Do not wait for the insurance settlement.

What happens with settlements?

  • Settlement amounts do not get returned to departments.
  • Settlements take account of the purchase price and the age of the item. The insurance company also considers what preventative measures we have taken. They may decide not to meet claims if they think we were negligent. For example, if an item is left unattended in a public place and gets stolen, they may decline our claim.

All Risk Policy


Self-Assessment / tips / templates (PDF)
Self-Assessment / tips / templates (Word)
FAQ: Frequently Asked Questions

Date Reviewed: 11-January-2021

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