Data Processing Equipment
John P. Kruczek, University Controller
The Department of Management Services, Division of Purchasing has made available to all State agencies the opportunity to purchase insurance for electronic data processing equipment. The insurance will provide all risk, replacement coverage and the program is voluntary for all agencies.
Within the University of Florida, each department or division will be responsible for its share of the premium. The premium is 6.5 cents per $100 insured value with deductibles of $500 for each claim occurrence up to $10,000 and $2,500 per claim occurrence over $10,000. Quarterly reports must be submitted to the insurance agency the end of February, May, August and November. December renewal premiums will be determined by the August report. Annual premium adjustments will be based on the November report.
The insurable equipment will be based on equipment recorded in the University of Florida property master file with the appropriate expenditure object codes. It is imperative that individuals who are responsible for purchasing use the correct objects when initiating requisitions. Otherwise, premiums may be paid on equipment that is not insurable by this program. The object codes for data processing related equipment begin with 516. Equipment that is not computer related should be recorded with 513 object codes.
Attached is a current report from the University’s property master file of the computer related equipment recorded in your organizational codes. The report describes the equipment in each appropriate object code, and provides a total value by object code and total value of all applicable equipment.
Please contact Helen F. Sawyer, Insurance Coordinator, by April 3, 1998, if you are interested in participating in this insurance program. If you choose to participate, you must also indicate the equipment object codes you want to insure. The University’s Insurance Coordinator will be the liaison between the participating departments and divisions, the Department of Management Services and the insurance agency. The viability of this program will depend on the number of campus departments who express an interest to participate.