Specifications include, but are not limited to: 3.1.1. Listed below are the current insurance policies and programs that are being administered by the Risk Management Division. Awarded Broker must demonstrate their ability to procure any or all insurance policies and associated support services in a cost effective and timely manner. A. Aircraft Liability & Hull Insurance - This provides liability coverage for the State’s owned and non-owned aircraft, and hull damage coverage, subject to various deductibles. Currently, the State has two (2) fixed wing aircraft and five (5) helicopters. Aircraft are used by the Nevada Department of Transportation and Division of Forestry/Wildlife. Aviation Program also provides coverage for the State’s owned Unmanned Aviation Systems and additional protection from non-owned UAV exposures State, specifically, for the Governor’s Office of Economic Development (GOED) as they received Federal grant funding to oversee on behalf of the FAA the Unnamed Aviation Test Site within the State. B. All Risk Property and Contents Insurance - The State’s Property program combines self-funding and commercial insurance to provide blanket coverage on all State-owned buildings and their contents and the contents of leased buildings for all physical loss or damage except as specifically excluded by the commercial property insurance policy. State of Nevada participates in an All-Risk Property and Contents Insurance program (including Earthquake & Flood) which also provides coverage for personal business property, fine arts and contractors equipment/vehicles). This program also provides primary coverage for first- and third-party cyber losses. All real property losses under the property policy are subject to a $100,000.00 per occurrence deductible for all risk and variable sub limits for flood & EQ, and cyber insurance. Agencies are required to report all changes in property values and locations to the Risk Management Division within 60 days of project completion or purchase. Current total insured values are approximately $2 Billion. (The Nevada System of Higher Education (NSHE) negotiates and administers its own commercial property coverage). C. Boiler and Machinery - This coverage is included within Risk Management’s current property program and provides coverage for damage to boilers, pressure vessels, etc. at State-owned locations, subject to a policy deductible. Risk Management also provides State agencies a program of jurisdictional inspections in accordance with OSHA regulations. All losses must be reported to Risk Management immediately so that claims and reimbursements can be promptly pursued with the insurer. All damaged equipment must be kept until the insurance company adjuster has had an opportunity to inspect the damage. D. Commercial Crime Insurance (Employee Dishonesty) - A Public Employees policy that provides coverage, subject to a deductible, for loss caused by any fraudulent or dishonest act committed by an employee acting alone or with others. The policy covers all employees except those required by statute to furnish an individual bond (the state’s Treasurer). Coverage for specific employees is automatically terminated upon discovery of their involvement in any dishonest act during current or prior employment or having been canceled under a prior bond. Potential claims must be reported to the Risk Management Division as soon as possible so that reimbursement may be sought from the insurer. Current limits: $7,000,000.00 current deductible: $250,000.00 (The NSHE negotiates and administers its own coverage).
