Insurance and risk
The Office of Insurance and Risk protects assets at Virginia Commonwealth University by:
- Evaluating and maintaining schedules of exposure
- Developing insurance policy specifications
- Placing adequate insurance coverage
- Managing claims
- Advising the VCU Board of Visitors and university management on risk management issues
University departments are responsible for identifying and preventing or otherwise mitigating risks and potential future losses. Faculty and staff should report any perceived risks they encounter on campus.
In addition to general liability, property insurance, vehicle insurance, medical malpractice and foreign travel insurance, we maintain these policies and programs:
- Money and securities insurance provides protection against theft of the university’s money or securities, whether on or off premises.
- An unclaimed corpse bond ensures that cadavers are used only for scientific education and training.
- Special event coverage applies to university-sponsored events at off-site locations when a site owner or management company requires a certificate of insurance naming them as an additional insured under our liability policy. We require at least 10 days’ notice prior to the event to purchase coverage and add a corresponding endorsement to the policy.