Regents system universities in Kansas are reviewing earthquake insurance policies after several quakes were reported in the state this year.
The Lawrence Journal-World reports that the universities’ chief financial officers decided to review the policies out of “due diligence.”
University of Kansas CFO Leisa Julian says the regents system has $1 billion in property insurance, at a cost of more than $2 million a year. The coverage includes $100 million in earthquake protection. Adding another $100 million would increase the annual premiums by $44,000.
The CFOs have taken the matter under advisement for now.
Wichita State University President John Bardo strongly supported increasing coverage. Some earthquakes centered in Oklahoma and south central Kansas were felt in Wichita. He says $100 million is not a lot of money to protect the entire system.
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