Risk Management Department manages
the risks of loss to University 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.
to implement and use
a risk management process to identify, measure and control or finance risks
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 causes 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.