Insurance Overview
Restoring property to the same condition prior to a loss is the purpose of insurance. The State of Oregon Insurance Fund's purpose is to reimburse OSU for costs to restore property needed for the operation of the state.
OSU's Insurance Carrier
OSU participates in the State of Oregon Insurance Fund (SOIF) administered by the Department of Administrative Services Risk Management Division (DAS-RMD).
The SOIF:
- self-insures property losses up to a certain limit (similar to a deductible)
- self-insures general liability and vehicle liability losses
- purchases commercial policies for losses over that limit
- purchases commercial policies for specialty coverages
- manages and adjusts claims
In addition, the SOIF contributes to OSU's workers' compensation insurer, the State Accident Insurance Fund (SAIF).
OSU's Commercial Insurance Specialty Policies
For risk exposures the SOIF does not self insure, the SOIF goes into the marketplace and purchases commercial insurance specialty policies primarily through the State's Broker, Willis, USA. A few examples of these types of exposures involve OSU's Research Vessels, Special Events, and Nuclear Liability. To purchase specialty policies that are not covered within the list below, contact the OSU Office of Risk Management (ORM) at 541-737-1323. The OSU Office of Risk Management (ORM) can assist you with this process. The DAS-RMD is the only authorized buyer of any commercial insurance on behalf of any state agency, including OSU.