Insurance Overview

Carleton University uses risk financing as an integral part of its risk management program. A key component of the university’s risk financing is its insurance program which is used to protect the university’s physical assets, limit its exposure to liability claims, and guarantee revenue in the event of interruption of operations. Some key components of the university’s risk financing program are:

• The purchase of all insurance for university property and activities must be arranged through the Executive Director, Office of Risk Management.
• The university purchases insurance to protect against catastrophic loss to its physical, financial and other assets. It also uses insurance as its method of risk financing to protect its Board of Governors, officers, supervisors, employees and students, acting in good faith, against liability arising out of their duties as officers, directors, supervisors, employees and students of Carleton University.
• The payment of deductibles and non-insured losses (e.g. below the deductible amount) shall normally be the responsibility of the department suffering the loss. If it is believed that extenuating circumstances exist, the case may be brought to the Assistant Vice-President (Financial Services) by the department head to request payment of the uninsured loss from the university’s general revenues.
• Personal property of faculty, staff and students is not covered by the university’s insurance policy.
• It is the responsibility of each department manager to advise the Executive Director, Office of Risk Management of changes in programs, activities or assets, which may affect insurance coverage in place.
• The university insures the risk of employee injury through its purchase of coverage from the Workplace Safety and Insurance Board. This program is administered through the Department of Human Resources. The Department of Human Resources is also responsible for the administration of all other employee benefit programs.

The following table is a summary of the basic insurance coverages purchased by the university and a brief description of the protection they provide. Please note that the actual policy wordings take precedence over the information provided on this web page.