Oregon State University is announcing several changes to its insurance coverage that will potentially impact faculty and staff.
As a result of significant changes to our insurance structure, OSU will no longer cover the cost of repairs for damages caused to vehicles parked in the faculty/staff and student lots near Student Legacy Park, Goss Stadium, the Softball Complex, or Patrick Wayne Valley Stadium. As a result, damage caused by fly/foul balls should be reported to private insurance carriers beginning June 1, 2013.
Lowering the number of claims will reduce the cost of insurance premiums for the university, and the policy will reflect industry standards both at other universities and at private sports arenas.
Signs identifying these parking areas as “park at your own risk” lots will be installed in the coming weeks. ADA/handicap parking spaces are excluded from this new rule.
Additionally, beginning on July 1, 2013, internal OSU deductibles will be increasing across campus. Deductibles for property losses taking place on campus will increase to $5,000 (up from $2,500). Deductibles on liability losses will increase from a $0 deductible to $5,000. These increases apply to all seven OUS universities, and are a result of the insurance premiums allocation model agreed upon by the universities.
If you have any questions or concerns regarding these policy changes, contact the Office of Risk Management at 541-737-7252.