Yes, there is limited coverage for contents on this policy, $250,000 per building. These contents must be University owned and the policy excludes losses due to theft. Departments can insure equipment and contents for a higher limit and include losses due to theft by purchasing additional contents insurance (Open Marine Policy). This insurance can be obtained by contacting the Insurance Department.
Insurance reimburses the cost to repair or replace with like-kind or quality. Every attempt is made to reimburse the department the costs to put the building back to the condition it was in prior to the loss. A department may incur some costs not covered by insurance since there are normal limitations and exclusions to the policy. The Insurance Department will explain the coverage in more detail when determining the scope.
Emergency repairs and other reasonable steps should be taken to protect the property from further damage. As soon as possible notify the Insurance Department of the details of the loss, by telephone (617-495-8668) and also submit a Property Loss Report Form. Further repairs should not be started until the scope of work and estimated costs for repairs have been agreed upon between the department and the Insurance Department.
The University has a self-insured program for property, liability and automobiles. In the Self-Insured Property Program, a reserve is set up to fund for University losses, third party claim payments and to pay the premiums for excess insurance. Each fiscal year departments are charged a property and liability premium, allocated per building, to maintain the property and liability reserve. Departments with University vehicles are charged an annual premium per vehicle to maintain the auto reserve.
The Self-Insured Property Program is structured as closely as possible on commercial...
An Information Technology audit is the examination and evaluation of an organization's information technology infrastructure, applications, data use and management, policies, procedures and operational processes against recognized standards or established policies. Audits evaluate if the controls to protect information technology assets ensure integrity and are aligned with organizational goals and objectives.
In the case of an event involving Confidential Information, which is information classified or treated as data under Levels 2 – 5 of the Harvard Data Classification table, report the event immediately following these steps:
A variety of support tools are available for learning about and implementing information security policies. To learn more about these tools, please see https://security.harvard.edu/resources.
An integrated audit considers the relationship between information technology, financial and operational controls in establishing an effective and efficient internal control environment. Even though issues may not be identified in financial and operational controls, issues identified in information technology may negate the effectiveness of the financial and operational controls and visa-versa. Therefore, an integrated audit evaluates the interplay between...
We administratively report to the Vice President for Finance and CFO, and we receive operating authority from, and are responsible to, the Joint Committee on Inspection. We meet with the Joint Committee on Inspection at least four times per year and provide an annual report on our work and the existing financial, operational, compliance and reputational risks of the University.
RMAS adheres to the International Standards for the Professional Practice of Internal Auditing (Standards) which requires an external assessment by a qualified, independent review team. The objective is to evaluate our conformance with the Standards and to measure ourselves against internal policies and procedures, stakeholder expectations, and industry best practices.
An assessment was undertaken in 2014 and plans are underway for an assessment in 2019. The results of each assessment are provided to senior leadership and to Harvard’s audit oversight...
. Further repairs should not be started until the scope of work and estimated costs for repairs have been agreed upon between the department and the Insurance Department.