Oregon Statutes - Chapter 278 - Insurance for Public Bodies - Section 278.075 - State agencies to supply information on media property; scope of coverage.

(1) At times determined by the Oregon Department of Administrative Services, each state agency owning, leasing, controlling or possessing media shall supply such information as the department may require regarding the agency’s media. The appraised value of the media shall be established on the basis of present-day replacement costs or restoration to operational condition.

(2) If any media designated in subsection (1) of this section is damaged or destroyed by any covered peril, the department shall pay all extraordinary expenses related to replacement or re-creation of new or backup media out of the Insurance Fund in an amount not to exceed the appraised value established pursuant to this chapter. Such costs may include reproduction of media, temporary service and equipment rental costs, reinstallation, shipping and other related costs.

(3) Media coverage by the Insurance Fund does not include any loss of moneys because of the lack of any revenue producing function connected with the operation, nor does it cover any other costs of business interruption outside the direct expenses as outlined in subsection (2) of this section. [1981 c.109 §23; 1985 c.731 §12; 1991 c.566 §5]

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Last modified: August 7, 2008