65. Insurance
65.1. The Director of Finance is responsible for the University’s insurance arrangements, including the provision of advice on the types of cover available. As part of the overall risk management strategy, all risks will have been considered and those most effectively dealt with by insurance cover will have been identified. This is likely to include important potential liabilities and provide sufficient cover to meet any potential risk to all assets. This portfolio of insurances will be considered as part of dual assurance processes.
65.2. The Director of Finance is responsible for effecting insurance cover as determined by the Vice-Chancellor’s Executive Group. He is therefore responsible for obtaining quotes, negotiating claims and maintaining the necessary records. The Director of Finance will keep a register of all insurances effected by the University and the property and risks covered. He will also deal with the University’s insurers and advisers about specific insurance problems.
65.3. College Deans/Directors of Service must ensure that any agreements negotiated within their College/Service with external bodies cover any legal liabilities to which the University may be exposed. The Director of Finance advice should be sought to ensure that this is the case. College Deans/Directors of Service must give prompt notification to the Director of Finance of any potential new risks and additional property and equipment that may require insurance and of any alterations affecting existing risks.
65.4. College Deans/Directors of Service must advise the Director of Finance immediately of any event that may give rise to an insurance claim. The Director of Finance will notify the University’s insurers and, if appropriate, prepare a claim in conjunction with the College Dean/Director of Service for transmission to the insurers.
65.5. The Director of Campus Services is responsible for keeping suitable records of plant which is subject to inspection by an insurance company and for ensuring that inspection is carried out in the periods prescribed.
65.6. All staff using their own vehicles on behalf of the University shall maintain appropriate insurance cover for business use.
