Master Property Program
The Master Property Program (MPP) is a regional collaborative venture that provides comprehensive property coverage, specifically tailored to the needs of today’s college campuses, while reducing insurance costs and improving asset protection. The Program was established in 1994 upon recommendation of MHEC’s Risk Management Committee. The Program has generated more than $114 million in savings for its participating institutions since its inception. The program is currently underwritten by Lexington (AIG) and Zurich with administration led by Marsh USA Inc. and supported by Captive Resources, Inc. under the direction of a leadership committee representative of the insured institutions. Participation in the program includes over 160 campuses with total insured values of over $92.9 billion.
The MPP is overseen by the MPP Committee, composed of representatives from each of the participating institutions, and its Leadership Committee. Institutions meet annually to review programmatic issues and to approve major policy changes and activities. The Leadership Committee directs the major operations of the program, overseeing the development of program policies, premium allocations, new program membership, and selection of program administrators and insurance underwriters. The Leadership Committee meets four times a year or as-needed to review and discuss program issues.
In 2004 MHEC and the Western Interstate Commission for Higher Education (WICHE) reached an agreement to allow WICHE member institutions to join MHEC’s MPP on a case-by-case basis where it is mutually beneficial to participating members. In 2009 and 2013 respectivley, MHEC and the New England Board of Higher Education (NEBHE) and the Southern Regional Education Board (SREB) entered into similar arrangements for their member institutions.
For further information on either of these programs, contact Carla Ahrens, property program manager, at 573-634-7161.