Welcome to the Office of Risk Management and Insurance
We are committed to delivering the highest quality risk management and insurance services, guidance and support to our students, faculty, staff and community to help them successfully complete their goals and objectives. We collaborate with various partners to advance the University’s mission of being a world-class institution of higher education. We operate as an appropriated department existing to serve the units at Cornell University. We report to the Division of Environment Health and Safety (EHS), and have the responsibility of carrying out the policies of Cornell University in matters relating to risk management and insurance.
We rely heavily upon the expertise of the University community which keeps it apprised of concerns and suggestions in matters affecting the protection of assets and the safety of University personnel and the public. We play an important role in planning, leading, organizing, coordinating, and controlling the activities of the University both before a loss occurs (pre-loss actions) and after a loss occurs (post-loss response) in an effort to minimize the adverse effects to the University at a reasonable cost.
Exposures to risk of loss (except business risk), which arise from external causes, shall be avoided, eliminated, minimized, transferred, or controlled whenever it is feasible to do so. To ensure the proper stewardship of University resources the risk of loss is transferred to the operating units.
Identified risk of loss is assigned to a University owner, who is ultimately responsible for management of that risk.
The University will only purchase insurance for those exposures to risk that remain after all reasonable loss prevention measures have been pursued, and when the magnitude of the risk and the potential for loss is such that the purchasing of insurance is warranted.
The Office of Risk Management and Insurance is responsible for:
- The purchase and management of liability, property and student insurance (exclusive only of Workers Compensation).
- Assisting units in the management of their risk through:
- planning what work must be done to protect Cornell against the adverse effects of accidental losses;
- organizing personnel and other resources to carry out this work;
- leading personnel throughout Cornell to motivate them in their responsibilities relative to risk management;
- controlling Cornell’s risk management program and evaluating its effectiveness.
- coordinating the experts in the areas of safety, security, law, claims administration, and finance in addressing claims, potential claims, and litigation against the University.
- making decisions relative to the risks that the University encounters in its operations.
The basic decision making process of risk management is as follows:
- Identify potential human, physical, financial, and natural losses.
- Measure the effect on Cornell should a loss occur.
- Apply appropriate risk control and/or risk financing techniques.
We provide advice to Units on specific risk management issues
- Assumption of Risk, Hold Harmless, Release, & Disclaimer Forms
- Certificates of Insurance requests
- Claim Management
- Contract Review and Modification
- Cost Allocation (Insurance Billing)
- Employing individuals outside of New York State and Internationally
- Event Review and Management
- Insurance Purchase and Management
- International Incident Response
- Strategic Risk Planning