RISK MANAGEMENT
DEPARTMENTAL ORGANIZATIONAL CHART
MISSION STATEMENT
For humanitarian, social, legal, and financial reasons, the University will make every reasonable effort to protect the health and safety of members of the community and the public from any hazards incidental to operations of the University. We will keep a major focus on continually evaluating the cost/benefit of both the insurance and self-insurance programs. We strive to preserve and protect the University's resources against losses arising out of any occurrence, thereby enabling the University to carry out its goals and purpose of providing quality education, research, patient care and public service programs. In order to fulfill these objectives, we will consider all types of risks, including but not limited to, natural risks, environmental risks, political risks, compliance risks, economic/business risks, social risks and technological risks.
OBJECTIVES
The University is exposed to various risks which, may be insured or not insured. Also, certain risks may be avoided, reduced, or prevented. Recognizing the need and responsibility to preserve the University's resources, the following policy and guidelines have been prepared for the managing of insurance and risks:
1. Every effort will be made to maintain a lower cost of risk (both insurance and self-insurance) without placing the University of Miami in a position of risk exposure which could have a significant impact on its financial security and academic/research mission. All risks of loss and need for insurance are to be evaluated on entire campus viewpoint.
2. Conditions and practices which may cause loss are to be eliminated or modified whenever possible.
3. Risks are to be assumed or self-insured whenever the amount of potential loss would not significantly affect the University's financial position.
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