Systems and Procedures
A Division of The Office of Budget and Finance
A Division of The Office of Budget and Finance
The Property Loss Report is to be completed in the event of a property loss such as fire, water damage, burglary, etc,.
Contact University Police and Public Safety to report the incident.
A Public Safety Officer will obtain witness statements, if available, as soon as possible after the loss.
Ensure all appropriate University departments are notified (i.e., Environmental Health & Safety (EHS) and the Office of Physical Plant (OPP).
Photograph the incident scene whenever possible. Label the photographs with a description of the photo, your name, and date. Retain all evidence. Do not discard any damaged property until advised to do so by Risk Management. The insurer must be given opportunity to assess the damage, if they wish to do so.
Faculty and staff are responsible for protecting the University from further (additional) damage or loss. In the event of fire, windstorm, hail, lightning, flood or water damage, employ the necessary resources available to protect and preserve the property. Everyone must make a reasonable effort to protect the property.
Upon notice of the claim, Risk Management will report the claim to the University's Insurer to determine if coverage exists under the University's property insurance program. In the event the damage is considered to be an insured loss, Risk Management will coordinate all claim activities with the insurer and the department experiencing the loss.
The business area/unit/department experiencing the loss must obtain quotations for the repairs and/or replacement of the damaged property, and be sure to keep copies of all estimates and invoices related to the incident. If repairs will be made, the repair technician must support the replacement of any parts in the service report. Copies of all estimates and invoices related to the loss must be forwarded to Risk Management.
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No form may be used that substitutes for an approved official University form without prior review and approval by the steward of the form/central office, as facilitated by the Office of Systems and Procedures (designated representative of the Associate Vice President for Budget and Finance). Policy FN17 Required Use of Approved University Forms Appearing in the General University Reference Utility (GURU) requires that all form templates must be vetted and approved prior to being published on the GURU website and all such documents having gone through said established approval process must be password protected. Procedure FN2017 Use of Approved Form Templates Appearing on the GURU Website contains detailed information on the use and processing of this form.
| Document: | Ultimate Distribution: | Retention Periods: | Disposition Method: |
|---|---|---|---|
| Original | Submitted to Risk Management via psuclaims@psu.edu | End of fiscal year +2 years | Paper Document = Secure Bin disposal or shred Electronic Document and Data = delete and empty computer recycle bin |
| Transitory Copy* | Copies created during the ID process | Upon verification of successful implementation, End of fiscal year +1 year | Paper Document = Secure Bin disposal or shred Electronic Document and Data = delete and empty computer recycle bin |
*Transitory Copy - University Records that have temporary value and, as a result, may be destroyed after they are no longer needed. In no event shall be retained longer than the official copy of the University Record as delineated on the Records Retention Schedule.
The Property Loss Report and all supporting document are submitted to Risk Management via psuclaims@psu.edu.
For questions or additional details, please contact the Claims Specialist in Risk Management Office at psuclaims@psu.edu.
To request changes to this form, please contact the Office of Systems & Procedures by submitting a GURU Technical Support Request form.