AURIMSBenchmarkingSurvey2006 Benefits Management tool providing both internal & external...

AURIMSAURIMSBenchmarkingBenchmarking

SurveySurvey

20062006

BenefitsBenefits

• Management tool providing both internal & external comparisons

• Designed to achieve optimal outputs with minimum administrative inputs

• Captures costs & other data in multiple formats, eg: % of revenue, cost per student

• Can be customised for individual universities • Analysis of benchmarked criteria cannot be

elucidated from any other source• Equally relevant to all Australasian universities• Adds value to AURIMS membership

SecuritySecurity

• University is not identified in the survey• Completed survey forms will be filed

independently of any University computer• Responses will be collated confidentially• Destruction protocol to be established• Distribution to nominated persons only• Recipient has absolute discretion as to how the

data is utilised in own institution

InclusionsInclusions

• Name of principal insurer/broker (optional)• University revenue, staff & student numbers• Premiums exclude Fire Service Levies, Terrorism

Levies, GST & Stamp Duty• ISR/Property including declared asset/

consequential loss values & average rates• Liability, ie: General & Products, Professional

Indemnity, Medical Malpractice, Clinical Trials & Directors & Officers

• Motor Vehicle• Miscellaneous Classes, ie: Travel/Personal

Accident/Students PA, Contract Works, Fidelity & Marine Transit (if not in ISR/Property) & “Other”

ExclusionsExclusions

• Deductibles (often imposed by insurers rather than selected by universities, especially for Liability classes, but, if not, depends on appetite/ability to absorb losses)

• Limits/sub-limits of liability (amounts selected will be attuned to individual requirements)

• Claims Experience (generally known by each university and usually reflected in premium)

• Workers Compensation (large amounts involved would skew results and data being obtained by university anyway)

If desired, can be either included in later surveys orthe subject of separate surveys

Base DataBase Data

Period of Insurance (amend if required - most recent first) 2005-2006 2004-2005 2003-2004

UNIVERSITY DATA

Principal Insurer/Broker (Optional)University Revenue% Increase/(Reduction) in Revenue #DIV/0! #DIV/0! 0.00%Number of University Staff - FTENumber of University Students - EFTSU

If a class of insurance is not held, insert 0 in the appropriate columnsWhen entering numbers, enter whole numbers only - do not enter "$" signs, commas and the like

AURIMS BENCHMARKING SURVEY - 2006INPUT DATA IN RED COLOURED CELLS ONLY

ISR/PropertyISR/Property

ISR/PROPERTYDeclared Values - Assets/Consequential Loss% Increase/(Reduction) in Declared Values #DIV/0! #DIV/0! 0.00%ISR/Property Premium (excl. FSL/Terrorism/GST/SD) % Increase/(Reduction) in Premium #DIV/0! #DIV/0! 0.00%Rate based on Declared Values #DIV/0! #DIV/0! #DIV/0!

Liability ClassesLiability ClassesGENERAL & PRODUCTS LIABILITYPremium (excl. GST/SD)% Increase/(Reduction) in Premium #DIV/0! #DIV/0! 0.00%Cost Expressed as % of University Revenue #DIV/0! #DIV/0! #DIV/0!Cost per University Staff Member - FTE #DIV/0! #DIV/0! #DIV/0!Cost per University Student - EFTSU #DIV/0! #DIV/0! #DIV/0!PROFESSIONAL INDEMNITYPremium (excl. GST/SD)% Increase/(Reduction) in Premium #DIV/0! #DIV/0! 0.00%Cost Expressed as % of University Revenue #DIV/0! #DIV/0! #DIV/0!Cost per University Staff Member - FTE #DIV/0! #DIV/0! #DIV/0!Cost per University Student - EFTSU #DIV/0! #DIV/0! #DIV/0!MEDICAL MALPRACTICEPremium (excl. GST/SD)% Increase/(Reduction) in Premium #DIV/0! #DIV/0! 0.00%Cost Expressed as % of University Revenue #DIV/0! #DIV/0! #DIV/0!Cost per University Staff Member - FTE #DIV/0! #DIV/0! #DIV/0!Cost per University Student - EFTSU #DIV/0! #DIV/0! #DIV/0!CLINICAL TRIALSPremium (excl. GST/SD)% Increase/(Reduction) in Premium #DIV/0! #DIV/0! 0.00%Cost Expressed as % of University Revenue #DIV/0! #DIV/0! #DIV/0!Cost per University Staff Member - FTE #DIV/0! #DIV/0! #DIV/0!Cost per University Student - EFTSU #DIV/0! #DIV/0! #DIV/0!DIRECTORS & OFFICERS LIABILITYPremium (excl. GST/SD)% Increase/(Reduction) in Premium #DIV/0! #DIV/0! 0.00%Cost Expressed as % of University Revenue #DIV/0! #DIV/0! #DIV/0!Cost per University Staff Member - FTE #DIV/0! #DIV/0! #DIV/0!Cost per University Student - EFTSU #DIV/0! #DIV/0! #DIV/0!

Liability SummaryLiability Summary

LIABILITY SUMMARYTotal Premiums (all Liability classes excl. GST/SD) $0 $0 $0% Increase/(Reduction) in Premium #DIV/0! #DIV/0! 0.00%Cost Expressed as % of University Revenue #DIV/0! #DIV/0! #DIV/0!Cost per University Staff Member - FTE #DIV/0! #DIV/0! #DIV/0!Cost per University Student - EFTSU #DIV/0! #DIV/0! #DIV/0!

Motor Vehicle and Motor Vehicle and Miscellaneous ClassesMiscellaneous Classes

MOTOR VEHICLE(If Burning Cost, insert deposit premium for most recent period of insurance and adjusted premiums for other periods.If Unit Cost, insert deposit premium for most recent period of insurance and CED adjusted premiums for other periods)

Average Number of Vehicles InsuredPremium (excl. FSL[if applic]/GST/SD)

Average Premium per Vehicle #DIV/0! #DIV/0! #DIV/0!% Increase/(Reduction) in Premium per Vehicle #DIV/0! #DIV/0! 0.00%MISCELLANEOUS CLASSESPremiums (excl. FSL/Terrorism[if applic]/GST/SD)Travel/Personal Accident/Students PAContract WorksFidelity (if included in ISR/Property, insert 0)Marine/Transit (if included in ISR/Property, insert 0)Other (if none, insert 0)Total Premiums (Miscellaneous Classes) $0 $0 $0% Increase/(Reduction) in Premium #DIV/0! #DIV/0! 0.00%

Results SummaryResults Summary

ALL CLASSES SUMMARYTotal Premiums from above (excl. FSL/Terrorism/GST/SD) $0 $0 $0% Increase/(Reduction) in Premium #DIV/0! #DIV/0! 0.00%Cost Expressed as % of University Revenue #DIV/0! #DIV/0! #DIV/0!Cost per University Staff Member - FTE #DIV/0! #DIV/0! #DIV/0!Cost per University Student - EFTSU #DIV/0! #DIV/0! #DIV/0!

Future Benchmarking SurveysFuture Benchmarking Surveys

FUTURE BENCHMARKING SURVEYSIn order that future benchmarking surveys satisfy the majority of members, it would be appreciated if you would answer YES or NO in the corresponding red cell as to whether they should seek additional data. Your comments w

ADDITIONAL DATA ANSWER1. Deductibles - Yes or No2. Limits/sub-limits of liability - Yes or No3. Claims Experience - Yes or No4. Workers Compensation - Yes or No

COMMENTS

TimetableTimetable

• Email survey to AURIMS members: 31 May 2006

• Target completion date: 30 June 2006

• Collation of surveys and distribution of synopsis to members: 31 July 2006

• Intention is to coincide with preparation of 2006-2007 renewal data and to assist with negotiations of terms for that period

ContactsContacts

Tony BurrettInsurance OfficerDivision of Financial

ServicesCharles Sturt UniversityWagga WaggaPhone/Fax: (02) 4476 1514Mobile: 0403 337202Email: tburrett@csu.edu.au

Trevor CaseManager - Insurance & Risk

ManagementNathan Campus Griffith University BrisbanePhone: (07) 3735 7971Fax: (07) 3735 6521Email:

t.case@griffith.edu.au