Office of Treasury Operations, Risk Management

Transit Insurance

Risk Management administers a Transit Insurance Plan for departments opting to insure shipments. This policy covers shipments made by vessel, barge, truck, railcar and/or land and/or air conveyance and connecting conveyances, including shipments by mail and parcel post, messengers, parcel delivery service, and couriers. Loss or damage caused by deterioration or decay, however caused, is excluded.

  • Geographical Limits – Worldwide – except to the extent coverage is prohibited by United States of America law or United State of America governmental decree.
  • A deductible of $500 applies per loss.
  • The premium that is charged is based upon the value of the each shipment. Requests to insure your shipment should include the following information:
    • Name and department of who is shipping
    • What is being shipped
    • Value of the items being shipped
    • Where the item is being shipped to or from. Shipping outside the United States will require additional information.
    • What date the item will be shipped
    • How the item is being shipped
    • The purpose of the shipment, such as for repair or return
    • A C-FOP to charge the insurance cost. Note:  Transit insurance typically is not an allowable cost on a grant-funded account.
  • Complete a Transit Insurance Request form to submit a request for coverage.

Reporting a Claim

  • Report a claim to both the carrier and Risk Management (217-333-3113) as soon as you become aware of the loss.
  • Provide the following information to Risk Management.  The carrier will have its own claim process but may need similar information. 
    • Who
    • What
    • When
    • Where
    • How
    • Provide pictures of the damages if available. 
    • If the loss is due to theft, a police report is required.
  • Do not discard the damaged item or any packaging until advised to do so by Risk Management. 

How Losses Are Settled

  • Most carriers provide a nominal limit of insurance coverage for each shipment.  Report this amount to Risk Management (copy of payment required). 
  • Risk Management applies the deductible to the remaining insured value, and a journal voucher is processed to credit the C-FOAP provided from the initial request for insurance.

Who to Contact

Nichole Jackson, ncjacksn@uillinois.edu, 217-333-3113