11.2 Insurance Requirements For Property Inventory
The Risk Management Services division of the Georgia Department of Administrative Services (DOAS) provides insurance services for state of Georgia agencies and authorities. The property program insures state-owned buildings and property against damage or destruction from various hazards.
The Risk Management Services division does not utilize the detailed property inventory records for establishing insurance premiums. Risk Management Services will ask each institution to provide annually a listing of buildings, building values, along with values for the building contents. This report is used for determining insurance billing amounts. After Risk Management Services receives the annual listing of buildings, building values, along with values for the building contents from the institution, they will issue an invoice for the insurance coverage directly to the institution.