WMU Insurance Programs

Michigan University Self-Insurance Corporation

  • Comprises 11 of the 13 four-year public institutions in Michigan.
  • Incorporated in 1987.
  • Cooperative risk financing facility.
  • Mechanism for identifying loss trends and developing solutions unique to the university setting.
  • Organizational structure.

How it works

  • Universities fund the first layer of loss in the form of retention or deductible.
  • Michigan University Self-Insurance Corporation funds the second layer of loss and buys excess insurance to cover the member institutions from catastrophic losses.
  • We get a better deal on excess premiums through group purchases.
  • With no losses, we get paid premiums returned in the form of a dividend.
  • Equity also accumulates so that investment income can offset both current losses and future premiums.

Goals of Michigan University Self-Insurance Corporation

  • Broad coverage.
  • Cost stability and reduced cost.
  • More control.

Who is covered

  • The institution and the governing board.
  • Employees when they are acting within the scope of their duties.
  • Volunteers and students when they either perform services or become engaged in activities on behalf of the institution.

Other coverages (non-Michigan University Self-Insurance Corporation programs)

  • Aircraft hull/liability premises
  • Automobile physical damage/liability*
  • Builders risk
  • Crime
  • Directors and officers liability for the alliance
  • Directors and officers liability for Cistercian Publications
  • Directors and officers liability for Paper Technology
  • Directors and officers liability for the Western Michigan University Foundation
  • Excess workers compensation
  • Foreign coverage (general liability)*
  • General liability for the Maritime Studies (soon to be canceled)
  • General liability for the Western Michigan University Foundation
  • Government entity bond
  • Health center and related health specialties general/professional
  • Inland marine insurance coverage (equipment insurance)
  • Liability premises*
  • Multimedia professional liability (broadcasters and publishers liability)
  • Non-owned aircraft liability*
  • Professional/general liability for the alliance
  • Professional/general liability for the Center for Disability Services
  • Travel accident
  • Underground storage tank
  • U.S. postal bond

*Group purchase with other Michigan University Self-Insurance Corporation universities.