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Insurance Policies

Insurance Policy Summaries and Information

Policy Summaries 

Fire & Special Perils

This section covers the destruction of or damage to property caused by fire, explosion, aircraft, earthquake, riot and civil commotion, malicious damage, impact by any road vehicle, lightning and accidental leakage of sprinklers. These are the standard perils that apply to all buildings and covers property and contents for full reinstatement value.

Additional perils and subsidence also apply to certain specified properties.

This policy covers minor contract works extensions up to £1m. Contracts in excess of £1m need separate cover.

Material Damage

Covers for the following additional perils of storm, tempest and flood, escape of water, theft, accidental damage and impact by own vehicles. The maximum liability in respect of a claim shall not exceed £140m.

Business Interruption (Commercial all risks section)

Covers fire, lightning, explosion, aircraft, earthquakes, riot and civil commotion, malicious damage, storm and tempest, flood, burst pipes excluding sprinklers and impact by third party vehicles. Sums insured are for increased cost of working and loss of revenue - all perils are on a first loss basis for up to 4 years and rents receivable for up to 3 or 4 years. Cover is also extended for loss of revenue following closure of premises as a result of infectious diseases where there may be denial of access.

Event cancellation insurance can be arranged with our insurers for an additional charge through the Insurance section.

Loss of Money

This section covers loss or damage to money plus loss or damage to any safe or strong room as specified in the policy. Specific instructions are mentioned below for cash in transit. Loss of money claims do not have an excess.

Guidance for Staff Depositing Cash

The recommendations below are considered to be reasonable precautions from the UCL insurers for cash-in-transit or deposits to a drop safe:

Cash amounts up to £2,500, the person should carry a mobile phone.  Cash amounts up to £2,500-£4,999 require two people each carrying a mobile phone. 
Insurers have also advised that whenever possible the routes and timings of deposits should be varied. These recommendations form part of the conditions of the insurance policy and if not followed, could cause a claim to be declined.
  • For amounts of £5,000 and over, the recommendation is for the cash to be divided so that the maximum being banked on each separate occasion remains below £5,000.
Terrorism

Cover is provided under various policies by UMSR for buildings, contents and business interruption, including those properties where specific arrangements are necessary as a consequence of external requirements.

Policy Information

Employers Liability

This policy covers legal liability to employees for death, injury or disease. The term employee has a wide definition as described in the policy but excludes students.

Public/Products Liability

Covers legal liability to third parties for accidental loss of or damage to property or for death, illness or disease.

Professional Indemnity

Covers legal liability to third parties for breach of professional duty due to negligent act, error or omission. The excess on the policy is £25,000.

The policy does not cover trading activities in North America. Theft by an employee as well as directors and officers liability is covered. 

The policy is on a "claims made" basis and cover must be in force at the time a claim is initiated.

Motor Fleet

Comprehensive cover is provided for any vehicle owned or hired by UCL. Vehicles on hire or lease agreements which require UCL insurance cover will need to declared to the Insurance Section as it is a legal requirement that they are recorded on the Motor Insurance database. 

Anyone who needs to be insured to drive a vehicle on behalf of UCL will need to complete a "Drivers Declaration Form". It is the responsibility of driver to inform the Insurance Section if there have been any changes to your driving licence.

In the event of an accident the driver must inform the Insurance Section as soon as possible and drivers covered by this policy are advised not to admit liability for the claim.

If you have an accident whilst driving a UCL vehicle, you will need to declare the accident to your personal motor insurer when requesting a quote from them. This is regardless of who was at fault.

Any vehicles hired outside of the UK are not included under the UK policy and must be insured overseas by the hire company. Details of all vehicles hired using the motor policy must be sent to the Insurance Section. All drivers must be approved by insurers. Individuals who drive a minibus must have a category D1 entitlement on their driving licence, and must be over the age of 25.

All vehicles are declared to insurers annually. The Insurance Section should be informed regarding the carriage of hazardous goods as this activity would require additional cover from our insurers.

When leasing vehicles please ensure that photos are taken of the vehicle as soon as it is picked up and that they verified with the hirer, so that UCL is not charged for any damage that occurred prior to the vehicle being collected. 

Computers

All risks and breakdown cover.

Deterioration of Stock

Laboratory Specimens

The insurers will restrict the amount that can be claimed for the deterioration of stock in a freezer in the event of a loss to £100k, if the risk management measures below have not been implemented. Freezers which do have the system in place, would be covered up to the full value of the loss.

Insurers will expect the measures below to be implemented on all freezers with contents valued over £50k.

“Stored Goods in any one item of Refrigeration Plant shall not exceed
£100,000 unless
i) the Refrigeration Plant is fitted with a temperature monitoring device
incorporating
a. a power supply that is independent to that of the Refrigeration
Plant or a back-up power supply; and
b. remote signalling to an alarm receiving centre or permanently
manned security desk
c. procedures are in place requiring the alarm signal to be positively
acknowledged by the party responsible for responding to the
alarm
ii) an emergency plan is in place to ensure an adequate response to deal
with any incidents.”

Equipment temporarily removed from UCL

Policy provides Temporary All Risks Cover of up to £250,000 within the UK, with a maximum value of £50,000 for any one item and £100,000 outside the UK for items of equipment belonging to UCL or in UCL's custody or control which are temporarily removed from the premises and taken to another location. 

Group Travel

Provides cover for medical expenses, cancellation or curtailment expenses, loss of or damage to any personal baggage, loss of money, travel delay and loss of deposits as defined in the policy. Covers staff and students travelling on behalf of UCL and persons assisting UCL.

Field Trips in the UK

The policy provides cover for all staff and students whilst on a Field Trip with at least one overnight stay, on behalf of UCL within the UK subject to declaration. Please consult the UCL guidance for Off-site Working.

Personal Accident

Covers accidental death or bodily injury sustained by an employee whilst engaged in business activities including commuting, at levels defined in the policy.

Householders

Loss or damage caused by fire, theft and other risks as defined in the policy for residential accomodation.

Directors and Officers Liability

Covers any breach of duty. trust neglect, error, omission, mis-statement, misleading statement, breach of warranty of authority or other act done or wrongfully attempted for UCL appointments to third party companies up to £7m in the aggregate.

All policies except Employers liability, motor fleet and personal accident have a data recognition exclusion clause whereby failure of a system , including integrated circuits and microcontrollers, to operate as a result of any command programmed into the system utilising any date will not be covered by insurance.