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Insurance

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Enterprise Risk Management

Insurance

The goal of OU Enterprise Risk Management is to ensure the protection and preservation of the human, physical, and financial assets of the University of Oklahoma.  The department relies upon the University community as a whole to identify and notify the Enterprise Risk Management of potential losses.  This goal is accomplished by continued coordination with the University community through evaluation and implementation of the best method for handling the risk whether it is through risk avoidance, prevention, assumption, or transfer.  Insurance plays an integral part of the preservation of the University assets and the Enterprise Risk Management is responsible for the oversight of the University of Oklahoma-Norman Campus property and liability insurance coverage.

RENTAL CAR INSURANCE FYI

IMPORTANT FACTS THAT YOU SHOULD KNOW WHEN RENTING A CAR FOR BUSINESS RELATED FUNCTIONS. The State of Oklahoma does not insure property that it does not own. Regarding rental cars, there is no comprehensive/collision coverage provided by the State for the rental vehicle and there is no coverage for the negligent acts of a third party (i.e.: theft, vandalism, collision with the other party being at fault). If you choose not to purchase the physical damage coverage for rental cars then you and/or your personal auto insurance provider may be held accountable for any physical damage as the result of an accident, vandalism, or weather-related events. If renting a vehicle from OU Fleet Services, you do not need to purchase any insurance.

When renting a car while traveling for business related purposes you will be asked if you want to purchase insurance for the car you are renting/leasing. This can be confusing as there are several types of insurance that are offered. Most rental car companies offer LDW (Loss Damage Waiver), CDW (Collision Damage Waiver), ESL (Enhanced Supplemental), SLI (Supplemental Liability), PAE (Personal Accidents and Effects). For travel claims, only LDW (Loss Damage Waiver) and CDW (Collision Damage Waiver) are reimbursable. There is no need to purchase supplemental liability insurance as you are covered through the State’s Governmental Tort Claims Act if you are conducting business within the scope of your employment.

Should you have any questions, please contact the Office of Enterprise Risk Management:

Cathy Krane, Director of Enterprise Risk Management: (405) 325-2490 Opt. 2

Zinah Dupree, Risk Coordinator: (405)325-2490 Opt. 4