The University of Akron Office Of Risk Management

Risk Management and Insurance

The Office of Risk Management recognizes its role of stewardship of the assets of the institution, both tangible and intangible. It interprets its responsibility as requiring the highest possible concern for the safety of its students, employees, and the public; combined with a specific intention to safeguard the assets of the institution.

Consistent with this policy, the University expects that all of its employees and students will conduct their activities with the highest sense of responsibility for their own safety, the safety of others, and the protection of the assets of the University and the property of other which is properly located on campus.

What is Risk Management?

Risk management is the systematic process of managing an organization's risk exposures to achieve its objectives in a manner consistent with public interest, human safety, environmental factors, and the law. It consists of the planning, organizing, leading, coordinating, and controlling activities undertaken with the intent of providing an efficient pre-loss plan that minimizes the adverse impact of risk on the organization's resources, earnings, and cash flows.

What the Office of Risk Management Provides

• Direct oversight over all insurance and risk financing programs.
• Damage protection for University assets.
• Third-party claims resolution.
• Direction for the control and mitigation of risks associated with various activities.
• Hazard identification & analysis.
• Allocation of insurance premiums and claim costs.
• Contract review & analysis.
• Assist with annual inspection by insurance carriers of facilities.
• Certificates of insurance to meet contractual obligations.
• Oversight of the University Business Continuity Plan.

Please contact Matt Beaven (x7340) with any questions concerning the University's insurance and risk management programs.