Risk Management and Insurance Policy

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UCAR's policy is to take reasonable measures to protect its human resources while in the workplace and to prevent, minimize, and manage losses in order to protect its corporate assets.  This is accomplished by maintaining a risk management program, which consists of, among other things, a business continuity plan; various emergency response plans; internal controls; staff training; health, environment, safety, and security programs; and insurance in an effort to maximize risk protection while minimizing cost.  UCAR regularly attempts to identify exposures to risk, evaluate potential risks, examine options, develop risk controls, finance losses, and review its risk management program.

UCAR procures and maintains insurance consistent with standard business practices to protect its personnel and corporate assets.  This coverage satisfies the requirements of the NSF-UCAR Cooperative Agreement, other contracts, and the corporation. 

Any work-related theft, damage, or accident involving UCAR personnel, third parties, automobiles, aircraft, or property must be reported immediately to the employee's supervisor, Safety and Site Services and the Insurance Office.  Instructions for reporting automobile accidents are located in a conspicuous place in nonrental vehicles operated by UCAR.  The Insurance Office files all claims for incidents described in this paragraph and contacts brokers, adjusters, and legal counsel, as necessary. 

Safety and Site Services (SaSS) administers the Workers' Compensation coverage.  Any accident involving injuries to employees or visitors must be reported immediately to SaSS.  Failure to report within four days of the accident may result in the reduction of Workers' Compensation benefits.  See the UCAR Benefits Manual for more information about Workers' Compensation. 

See also the Anti-Fraud; Health, Environment, and Safety; and Workplace Conduct policies.

Contact the Insurance Office or Safety and Site Services, as appropriate, for interpretation of this policy.