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The Office of Risk Management and Insurance operates 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.

Risk Management and Insurance relies 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.

Potential Loss Exposures

The primary areas of potential exposure to risk of loss are as follows:

Crime – from exposures to burglary, robbery and employee dishonesty.

Employee-work connected injuries.

Liability – for operation of motor vehicles; operation of premises and negligent actions or omissions on the part of Cornell employees, agents or Cornell University funded and sponsored organizations.

Property-in vulnerable concentrations at specific locations and property subject to the perils of fire, lightning, windstorm, explosion, civil commotion, smoke, hail, vandalism, malicious mischief, vehicle and aircraft damage, sprinkler leakage.

A program of loss and accident prevention and the maintenance of appropriate, adequate and reasonable insurance protection will provide Cornell with protection against the loss of its assets and ensure the continuity of its operations.

Technical advice and services relative to insurance and/or loss control activities are available to each operating unit and will be provided by the Office of Risk Management & Insurance alone or in conjunction with other departments.

Each department is encouraged to utilize the services of the Office of Risk Management & Insurance, but they should especially seek advice when considering plans for new or expanded facilities, leases or other contracts, acquisitions, exhibitions, security, methods of storing or shipping merchandise, substantially new or altered programs or any activity which has the potential for risk of loss to people or University assets.

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