University of Southern Indiana Risk Management

MISSION STATEMENT

To manage risk of loss to the University’s assets by using the mix of loss control and risk financing that will best enable the University to fulfill its statewide mission and support the University’s strategic goals and initiatives. Its programs are intended to provide safe and healthy conditions for work and study, protect the environment and comply with applicable laws and regulations. It serves the university community by providing technical services, education and training, periodic audits and compliance assistance.

Risk Management Policy Statement

To implement and use a risk management process to identify, measure and control or finance risk of loss. The most cost efficient methods will be selected and these will be monitored and adjusted as needed.
To eliminate or control practices and conditions that cause loss.
To assume or retain risks of loss of a predictable and non-catastrophic nature that will not adversely impact the operating budgets or financial position of the University.
To transfer, through contract or insurance, those catastrophic risks that cannot be appropriately financed internally at an acceptable cost, with self insurance retention levels based upon a capacity to bear loss analysis.

General Overall Charge

Identify and analyze areas of risk/exposure and make recommendations for appropriate levels of risk retention (self-insurance) and risk transfer (insurance) and loss control measures.

Updated 4/19/2013 2:27:32 PM

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