Risk Management
Risk Management
Central Washington University recognizes its duty to manage its financial resources in a responsible manner, which includes the implementation and support of a risk management and insurance program. This program will place a high priority on the reduction and management of the University’s loss exposures involving liability and property damage or loss, and their associated costs. This approach supports the primary mission and goals of the University. This policy applies to all University personnel and property.
Department Policy Statements
Risk Management Abides by Goals and Laws
- Risk management supports the mission, goals and policies of the University and complies with federal, state and local laws.
Risk Management Conducts Risk Analysis
- Risk management identifies, measures, and analyzes the liability and property exposures of the University utilizing established and recognized techniques in the insurance industry.
Risk Management Selects and Administers Risk-Financing Techniques
- Risk management selects and administers insurance, self-insurance, and/or other recognized risk-financing techniques to handle loss exposures.
Risk Management Investigates and Manages Claims
- Risk management actively investigates and manages liability and property claims and recommends adjustment and settlement of insured and retained losses.
Risk Management Provides Contractual Risk Analysis
- Risk management analyzes contracts entered into by the University with respect to indemnity, insurance, and other risk-related provisions. Risk management reviews and recommends contract indemnity and insurance provisions for contracts created by the University.
Risk Management Manages Insurance Agent or Broker
- Risk management selects the University’s insurance agent or broker and manages the agent or broker services and compensation.
Risk Management Recommends Loss Control Procedures
- Risk management recommends loss control procedures to University departments to minimize liability and property damage of the University, except when University departments have the expertise, such as Accounting Services, to develop specific loss control procedures for their particular exposures. University departments must be cooperative to achieve this policy.
Risk Management Develops Risk Charges to University Departments
- Risk management recommends risk charges to Vice President of Finance and Administration and allocates to University departments as approved by the Vice President.
Risk Management Informs University Personnel
- Risk management offers advisories and training to University personnel focusing on current risk management issues.
Risk Management Depends on Individual Employees
- Risk management encourages the employees of Central Washington University to take individual responsibility for the creation of a University environment that protects and enhances the reputation and assets of the University in a responsible and cost-effective manner.
Risk Management Works in Partnership with Others
- Risk management works in partnership with other University personnel including, but not limited to, Internal Audit, Emergency Management, Environmental Health & Safety, University Police/Public Safety, and the Office of Attorney General which have overlapping responsibilities for the protection of people and University property.
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