The Research Foundation encourages project directors to consider insuring sponsor owned property, even when coverage is not specifically required by the sponsor. The RF also encourages coverage of property to which title vests with the Research Foundation, taking into consideration the following:
Effective July 1, 1993, the Research Foundation adopted a policy to provide all-risk coverage on all RF operating location property having a cost of replacement of $500 or more and purchased for sponsored program administration with RF funded revenue or purchased by the State and used for RF administered sponsored projects.
The policy was adopted to enable
For insurance purposes, an annual physical inventory of this property must be made and the items must be properly flagged in the SUNY Construction Fund Property Control System (PCS) by the end of each fiscal year. The physical inventory is to be completed by the operating location and will be coordinated by the Finance Office.
The cost of the coverage will be born by the operating location through the annual RF Central Office cost allocation process. Coverage will not be provided for administrative property purchased to support general University administration or other SUNY functions.
The Research Foundation can provide insurance coverage to meet unique project needs. The Finance Office should be contacted for obtaining special insurance coverage by sending an email to email@example.com.
Administrative Property Insurance
Project Related Property Insurance
Was this document clear and easy to follow? Please send your feedback to firstname.lastname@example.org.
Copyright © 2012 The Research Foundation for The State University of New York