NAU-owned property coverage
NAU-owned property coverage is governed by the Arizona Revised Statues (A.R.S.) §41-621 and Arizona Administrative Code, Title 2, Chapter 10. State Risk Management provides coverage for all University-owned buildings and contents, and NAU-owned personal property. NAU-owned property, both real (buildings, land) and personal (movable… such as office equipment, lab equipment, special collections), is covered wherever the property is located in the world.
The State covers NAU-owned real property at replacement cost.
The State covers NAU-owned personal property on an actual cash value basis (replacement value minus depreciation).
Loss to NAU-owned real and personal property must be $100 or greater per incident. State policy insures against all risk of physical loss or damage from any cause whatsoever, including property in transit and in temporary locations.
For more information on NAU-Owned Property Coverage, contact Risk Management at (928) 523-2009.