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risk management
Definition
The process of identification, assessment, evaluation, mitigation and monitoring of risks through policies, procedures, and practices utilizing a combination of risk assumption, risk avoidance, risk retention and/or risk transfer strategies.
The point of Risk Management is to strike a balance between the cost of handling risks and the cost of meeting organization goals.
Mission
In broad terms, UCAR’s Risk Management and Insurance Office is responsible for management of the following types of insurance: Property Insurance, Casualty Insurance, and Management Liability Insurance. Workers’ Compensation and Employee Benefits Insurance are administered by Safety & Site Services and HR respectively. General information on the major types of insurance coverage is provided on this site. For information not found on this site, or for specifics pertaining to coverage, deductibles, or procedures, please contact David Sundvall by e-mail or at 303-497-8898.
UCAR Risk Management & Insurance Office is responsible for the following functions:
• Develop and implement overall Risk Management strategies
• Educate UCAR/NCAR/UOP regarding potential sources of risk
• Provide risk assessment for special events, such as exhibitions, meetings, workshops, and other special training and education/outreach events
• Confer with the Office of General Counsel about settlement of claims and contract negotiations
• Serve as liaison with Labs/Divisions/Programs, SaSS Office, PPS, and UCAR OGC Office to identify potential hazards
• Establish levels of insurance limits
• Negotiate and obtain insurance from financially sound insurers
• Investigate and adjust property and casualty claims
• Review independent contractor insurance requirements to ensure adequate insurance coverages are in place
• Issue Certificates of Insurance
The Risk Management & Insurance Office understands that the primary objective of the risk management process is to support the core mission of the institution by protecting it against unexpected or unnecessary loss of resources. Therefore, it is the mission of the Risk Management Office, through collaboration and consultation with senior administration, staff and external business partners, to ensure the preservation of the physical, human and financial resources of UCAR/NCAR/UOP. |
