Risk Management & Insurance

The Research Foundation Risk Management department is responsible for the management of organizational risk and reporting, general liability and property loss claims as well as organizational insurance programs including the purchasing of high hazard travel insurance. 

Risk Management oversees the third party administrator relationship as it pertains to claims management and directs, oversees, and manages all general liability and property insurance issues that may expose the Research Foundation to litigation or insurance claims. This includes but is not limited to identifying, evaluating, controlling and minimizing the Research Foundation’s exposure to loss or damage to physical assets, fidelity losses, and losses arising out of liability claims. In addition, Risk Management is responsible for managing all automobile liability, fire, and property damage claims, communications with attorneys, claim reviews, investigations, and negotiations of settlements. 

The Risk Management team is available to review project ideas or proposals during development and inform principal investigators of insurance matters that may impact project budgets, such as on-campus special events or activities that involve the participation of minors. Activities such as these require the purchase of additional insurance. 

To protect its assets against losses or damages that may result during the course of conducting business, the Research Foundation purchases property and casual liability insurance to cover cost that the organization would be legally obligated to pay. General liability insurance should be secured during the pre-award phase of grant administration. 

Please note that the insurance may not cover activities that are considered outside the scope of Research Foundation business. 

Risk Prevention Analysis 

Research Foundation Risk Management attempts to identify areas of concern regarding potential risk while also providing preventative measures to minimize potential risk. Research Foundation Risk Management works with SJSU Campus Risk Management and Research Foundation Human Resources to provide education, training, and assessment of risk areas. 

Insurance Coverage

Insurance is needed to ensure sufficient protection against losses or claims arising out of the activities or business ventures with contractors, sub-recipients, and business entities. The cost for insurance premiums is the responsibility of the research project and/or department. The minimum deductible is $5,000 for incidents involving theft, loss, or damage to property.

 

International Travel Insurance

When planning travel to international destinations employees and project participants of the Research Foundation, must complete the Request for Approval of Travel Form. The form must be signed by the traveler, the supervisor, and by the authorized account signer, and must be submitted to the Research Foundation at least 45 days in advance of the departure date in order for Research Foundation Risk Management to arrange travel insurance. To allow time for travel insurance to be arranged when traveling to countries listed as war risks or high hazard countries, Research Foundation employees, project participants, SJSU faculty, students, and staff must submit authorization forms at least 60 days in advance of the intended departure date.

 

Incident Reports (Claims) 

If insurance was obtained through Research Foundation Risk Management, all incidents involving personal injury, potential injury or property damage must be reported to Research Foundation Risk Management immediately at Research-Foundation-Risk-Management@sjsu.edu. If insurance was obtained through SJSU Campus Risk Management, incidents should be reported to their designated contact.