Property & Liability Risk Management minimizes the adverse effects of accidental losses to the University. This process involves:
- Identification of exposures.
- Evaluation and selection of risk management techniques.
- Review of contractual agreements for risk transfer opportunities and liability, and insurance coverage requirements.
- Management of claims against and for the University, which could involve bodily injury, property damage, and other types of loss.
- Development of financial protective measures to pay for losses that do occur, either through insurance or self-insurance mechanisms.
The Office of Property & Liability Risk Management values its role as the University's manager of risk which, left unaddressed, may adversely affect the financial viability of the University and potentially impede its mission as a higher learning institution. Our mission is to meet specific goals and support the educational goals of the University, providing effective and timely service, promoting ethics and integrity through our work, encouraging the personal growth of staff, and practicing transparent communication with all stakeholders.
We will accomplish our mission by utilizing proven risk management techniques: identify loss exposures throughout the University, analyze loss exposures to predict potential financial loss to the University, review loss experience for the University, examine feasible risk management alternatives to reduce and finance losses, implement and monitor selected risk management measures.