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Schedule Number
ER2760
Primary Title
Insurance Management
Office of Primary Responsibility
Insurance Loss and Prevention (ILP); Procurement (certificates of insurance); all units
| Reference and duplicate copies of records are considered transitory and should only be kept as long as necessary and never longer than the retention of the official record. |
Description
Insurance management is a university function responsible for overseeing and administering all property, casualty and accident insurance policies, along with related claims. This encompasses insurable risks arising from all UBC operations, including people and associated assets. Records associated with insurance management include those supporting insurance coverage for UBC’s operations, as well as records associated with the placement of insurance policies, insurer information, and claim records for claims management. Records also include documents that provide evidence and protect the university and its insurers in potential claim events. Such documents consist of certificates of insurance issued by insurers to verify the university’s insurance protection and waivers.
Vital: Yes
PIB: Yes
Authority:
Limitation Act SBC 2012, c.13
Date Approved: 20240116
Retention Schedule Secondaries
| Secondary No. | Secondary Title, Scope & Content | Retention, Destruction & Disposition |
|
01 |
Policies and Procedures These records relate to how the OPR conducts the business of Insurance, Loss and Prevention. See -15 below for individual insurance polices |
EV+5Y, FR EV= when superseded or obsolete FR=UA will fully retain these records |
|
05 |
General |
CY+5Y, D |
|
10 |
Insurance Claims – no minor involvement Information associated with insurance claims in response to reports of loss, theft, damage, repair estimations, investigations, vehicle accidents. |
EV+12Y, D EV=Date claim is settled Note: Applicable only where ILP can segregate claims by claimant year otherwise retention is 30 years Note: Consolidated data report must be created prior to deletion of any records. |
|
12 |
Insurance Claims – minor involvement Information associated with insurance claims in response to reports of loss, theft, damage, repair estimations, investigations, vehicle accidents that involves a minor. |
EV+30Y, D EV=Date claim is settled Note: Consolidated data report must be created prior to deletion of any records. Save report to claims folder |
|
13 |
Insurance Database Summary of consolidated data. This information is critical to supporting the insurance market underwriting submissions, trend analysis and historical claim tracking. |
EV+0Y, P EV= Insurance database is retained permanently by Insurance Loss and Prevention |
|
15 |
Insurance Policies Records related to placement of any insurance policy including all and any form of policy documentation including policy documentation, endorsements and cancellations, and property valuations. File by year and policy type |
EV+5Y, P EV= when record is superseded or obsolete P= permanent retention by OPR |
|
16 |
Certificates of Insurance Provides evidence of insurance coverage |
EV+2Y, D Retain while product is in use plus 2Y, then destroy |
|
17 |
Other Insurance Documentation Use for non-claim related documentation. For claim related documentation use claim case files. Review annually for transitory records |
CY+10Y, D |
|
19 |
Waivers (includes informed consent waivers) |
CY+30Y, D |
|
20 |
Committees |
EV+5Y, SR |
|
60 |
Reports (e.g., Annual Report) |
EV+5Y, SR SR=UA will selectively retain records from this series. |
Acronym Key: AY = Academic Year; CY = Calendar Year; D = Destroy; EV = Event; FY = Fiscal Year; FR = Full Retention by University Archives unless otherwise noted; OPR = Office or Department responsible for source of truth records; SO = when superseded or obsolete; SR = Selective Retention by University Archives; UA = University Archives; Y = Year