The Role of Risk Management
The role of risk management is to be a service-provider and consultant to Western’s campus community. In addition to managing the university’s insurance and self-insurance programs, it implements risk identification, measurement and evaluation procedures, develops loss control procedures for University departments, reviews contracts, and manages property and liability insurance claims.
The following University Risk Management and Insurance policy provides more detail:
This policy applies to all University and self-sustaining personnel and property.
Western 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.
Abides by Goals and Laws
Risk management supports the mission, goals and policies of the University and complies with federal, state and local laws.
- University Policies and Procedures
- University Strategic Plan
- Business and Financail Affairs Mission, Vision and Strategic Goals
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 is focusing its attention on Enterprise Risk Management as a recognized technique
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.
Investigates and Manages Claims
Risk management actively investigates and manages liability and property claims and recommends adjustment and settlement of insured and retained losses.
Provides Contractual Risk Analysis
Risk management analyzes all 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.
Manages Insurance Agent or Broker
Risk management selects the University’s insurance agent or broker and manages the agent or broker services and compensation.
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.
Develops Risk Charges to University Departments
Risk management recommends risk charges to Vice President of Business & Financial Affairs and allocates to University departments as approved by President’s Council.
Informs University Personnel
Risk management offers advisories and training and briefing programs to University personnel focusing on current risk management issues.
Depends on Individual Employees
Risk management encourages the employees of Western 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.
Works in Partnership with Others
Risk management works in partnership with other University personnel including, but not limited to, Environmental Health & Safety, University Police/Public Safety and Office of Attorney General, that have overlapping responsibilities for the protection of people and property of the University.