Protecting the shipment of items that are shipped either to campus or off campus is known as “transit” insurance and is fairly easy to resolve. The key items to consider are:
- What party is responsible for insuring the risk of transporting an item?
- Have a detailed description of the item including serial numbers
- Establishing a value of the item(s) being shipped
- How is the item being packed?
- How is the item being shipped?
- What party is actually transporting the item?
- Is the University responsible for insuring the risk once the shipment has arrived?
For items that are leaving campus or being sent to campus for which we are responsible, it is essential that such items be inventoried.
For items valued less than $50,000 you need only keep records in your department files. Please keep track of the items that are leaving or being shipped, serial #’s of these items, the replacement cost, dates of departure and the method of transit (including items that are being personally carried as baggage). Risk Management asks that you submit quarterly reports of items being transported using the Removal of Property & Extended Coverage Request Form.
For items $50,000 and over, (including items that are personally carried as baggage), you must report to State of Wisconsin Risk Management. Covered property while in transit is insured against all risks of loss from any external causes. Some exceptions will apply, including improper packaging.
The state self-insures its owned and non-owned transit exposures. It also purchases a separate transit policy for shipments of high valued equipment greater than $100,000 when the state is responsible for its value during shipment either over land, air, or water.
The value of items being shipped must be reported to the Bureau of State Risk Management on a per shipment basis. Property shipped to a given location and subsequently returned would be considered two shipments and should be reported separately for each way. For all state agencies, shipments greater than $10,000 should be reported via an online form.
For UWM owned property, all shipments, overseas and domestic that are valued at $50,000 and greater are required to be reported via an online form. All domestic carry-on equipment/instruments with values of greater than $50,000 should also be reported.
SHIPPING INSTRUCTIONS– What to do when you need to ship cargo:
Immediately – Notify Risk Management who will request that you complete the form, “Report of Shipment and Request for Marine Cargo Coverage.” This should be done at least 72 hours prior to time of shipping.
The information that is requested on the web-based form will be applicable to most situations but there may be specialized circumstances that require additional information, usually requiring additional time for purposes of obtaining greater levels of insurance coverage. In general however, there are some basic details that you should make available whenever a shipment is made:
- Identification of the shipper
- Identification of non-state ownership
- Detailed property description and value
- Carrier/Transporter information
- Shipment origination and destination location
- Request for property coverage at destination
If you have questions regarding immediate shipments, please contact Risk Management via email or at (414) 229-6339.