Article ID: efa5933157c2e48e0e6fb3d03013b820a58ba0f7c3a18fd82f8185907cdc3e2f
Source ID: secondary:businessinsurance.com
Published At: -
Extraction Method: bs4_heuristic
Body Text
Early planning, documentation key to university property claims: Experts - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Early planning, documentation key to university property claims: Experts by Claire Wilkinson P/C Insurers , Property Oct 13, 2026 PHILADELPHIA — Universities should involve claims specialists early and carefully document expenses to maximize business interruption insurance recoveries, presenters said Monday at the University Risk Management & Insurance Association’s annual conference. Sandy Mitchell, director of MIT’s Office of Insurance, said hiring a forensic accountant helped the university recover an additional $616,000 in business interruption-related expenses following a 2015 water damage claim at a student residence. MIT relocated about 100 students to a hotel after a pipe burst in July 2015. Repairs were completed in November, but MIT had contracted to retain the hotel rooms through January, she said. The claim also involved lost rental income and additional expenses for transportation, meal plans, laundry and network services, Ms. Mitchell said. After the loss, MIT clarified its policy wording to cover rental income losses if student housing cannot reopen before the fall semester. “If the policy isn’t really clear on it, try and make the policy clear on it, and get the extra language added if you need to,” she said. MIT also received approximately $10 million in insurance payouts for two machinery losses at its central utility plant in 2015 and 2016. Most of that amount covered business interruption expenses because the university had to purchase electricity from the grid, which costs about $75,000 a day, while the plant was out of service, she said. Physical damage to property of a type insured under the policy, including potentially damage to suppliers’ or utility providers’ property, is required to trigger business interruption coverage, said Charles Doherty, division executive general adjuster at FM. Determining whether costs fall under property damage, business interruption or extra expense coverage can be challenging, particularly when damaged research materials must be replicated, he said. A 2019 transformer fire at Yale University’s Kline Biology Tower disrupted operations at the 16-story science building, affecting 20 of its 25 laboratories, said Janitza Matta, associate director of risk management and insurance at Yale. Most of the resulting claim was paid under property damage coverage, with a small business interruption payment for a café in the building, she said. The costs of replicating damaged research materials, including labor, laboratory space and overhead, were treated as property damage rather than business interruption under FM’s coverage, Mr. Doherty said. Universities should establish documentation requirements early with researchers and departmental business offices to help manage complex claims, Ms. Matta said. Related News E&S market slowing as some warn of ‘excess’ capital October 13, 2026 Hurricane Isaias insured loss estimates range from $1B-$3B October 13, 2026 Texas high court orders another look at refinery settlement dispute October 13, 2026 Mass. pot repeal vote puts work safety, medical-use protections in focus October 13, 2026 Aon names Siccardi to new global execution role October 13, 2026 Airport to close for a week after attacks October 13, 2026 Strife spurs MENA reinsurance growth: A.M. Best October 13, 2026 Drone attacks damage cloud services data centers October 13, 2026 Hackers overheat fridges at hundreds of French stores October 13, 2026 Facebook-f X-twitter Linkedin-in Business Insurance is a singular, authoritative news and information source for executives focused upon risk management, risk transfer and risk financing. Never miss important news: Become a Business Insurance Online subscriber today Subscribe Now Information About Us Contact Advertise Privacy Policy Terms & Conditions Copyright 2026. BUSINESS INSURANCE HOLDINGS Member, Beacon International Group, Ltd.
Metadata (JSON)
{
"score": 14.683333333333334
}