UA Marine Insurance
General Coverage Information
The University is covered by an insurance program for exposures arising out of its marine operations. Coverage includes liability coverage for loss, damage, or injury to others and physical damage to certain scheduled vessels over $25,000 in value.
Acquisition of vessels greater than $25,000 in value must be immediately reported to the System Office of Risk Services to be scheduled for coverage under the marine policy.
The insurance is effective for University vessels within their "trading warranties", which are established at the beginning of each insurance policy period. "Trading Warranties" delineate the sailing area(s) of each vessel. Use of the vessels outside their "trading warranties" requires notification to insurance underwriters through the System Office of Risk Services. There may be a premium charge from insurance underwriters if the change in trading warranty increases the hazards.
For additional information about this coverage, contact the System Office of Risk Services in Fairbanks.