Report an Ethics
Basic goals and activities of the University's Risk Management Program:
- Risk prevention: Prevention of adverse incidents that could give rise to, or actually result in, personal injury and property damage
STRATEGIES: Implement policies, procedures and practices in a variety of areas which potentially guard against occurrence or recurrence of adverse events. Examples range from simple routine strategies such as "wet floor" signs following spills or housekeeping activity, to OSHA-compliant workplace safety practices (use of personal protective equipment; staff training for hazardous operations), to protocols for safe delivery, storage and use of hazardous materials (e.g., chemicals in the science departments; chlorine for the swimming pool in the Recreation Center).
- Risk control: Minimizing the consequences of those incidents which are not prevented
STRATEGIES: Effective processes for documenting incidents, and for compiling related data, to allow for appropriate notification of University staff; focused review of specific incidents; identification of patterns and trends; work with claimants and potential claimants to obtain satisfactory resolution of issues while protecting the University's interests and minimizing financial loss; ensuring prompt and appropriate corrective action when violations are cited or deficiencies are identified by inspection authorities or regulatory agencies.
- Risk financing: Maintain an effective program of insurance and alternative risk financing strategies to cover any losses faced by the University from claims or suits. These can result from potentially compensable events in a wide array of exposures.
STRATEGIES: Establish effective working relationships with the best-qualified insurance brokers and carriers, so as to obtain optimal insurance coverage; evaluate performance of brokers and insurance carriers on a regular basis; analyze expenses associated with insurance program in comparison with direct expenses for claims, suits and potential exposures to determine "loss ratios."
- Risk Management Committee: The University Compliance Officer chairs the Risk Management Committee. The Committee, which meets every other month, reviews safety, risk, regulatory and insurance matters in a number of areas. A standing agenda encompasses topics related to environmental health and safety, fire safety, OSHA-related staff education and training, campus safety and security, and various safety/liability issues pertaining to physical plant operations, certain contract services, residence life, health services and athletics.
Additional information about risk management programs in a higher education setting is available at the website of the University Risk Management and Insurance Association.