Institutional Property Coverage

The Institutional Property Program provides broad, all-risk protection for an institution's buildings and contents, as well as Business Interruption coverage. This protection is provided under a manuscript policy with a series of excess policies above it. The total protection available is $750 million.

In addition to traditional types of loss, this coverage also includes Flood and Earthquake protection.

The manuscript policy affords a number of advantages, including higher sub-limits than what are normally found in a traditional property policy. One such example would be Construction Protection (Code Upgrade) coverage with sub-limits of $10 million.

Coverage is provided on a full replacement cost basis with no per-location limit.

The lines of Property coverage available to our Institutional participants include:

•    All Risk Property coverage
•    Builders Risk
•    Business Interruption
•    Boiler and Machinery
•    Scheduled Property
•    Electronic Data Processing coverage

The deductibles are:

•    Property: $2,500 or $5,000
•    Boiler & Machinery: $5,000
•    Scheduled Property: $500

In addition to Terrorism, the Property Protection includes such additional protections as Full Replacement Cost, $10 million in Code Upgrade coverage, limited Asbestos Removal coverage, Pressure Vessel (Boiler) inspections, and Extra Expense coverage.

Property Rates

Property rates are dependent upon types of construction, extent of protection, and limits requested. 

For a formal quote of contribution cost, please complete the New Member Participation Form.

For an estimate, contact the Office of Risk Management.