Risk Management 101 An Introductory Guide to Risk Management and Managing Risks.
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Post on 18-Dec-2015
Slide 1 Risk Management 101 An Introductory Guide to Risk Management and Managing Risks Slide 2 Definition of Risk danger possibility peril chance exposure jeopardy consequence hazard menace threat gamble We are concerned with the potential loss, including economic loss, human suffering, or that which may prevent the organization from being able to achieve its goals. Slide 3 WHAT IS RISK MANAGEMENT? A conscious effort of planning, organizing, directing, and controlling resources and activities. To minimize the adverse effects of accidental loss at the LEAST POSSIBLE ACCEPTABLE COST. Slide 4 Risk Management Decision Process Identify exposures Evaluate loss potential Select method Implement selected method Monitor results/ Modify methods Slide 5 Types of Risk and Loss General Liability Workers Compensation Property Loss building & contents Athletic Injury Business Interruption Institutional Reputation and Image Loss Contractual Activities Vehicle Slide 6 Types of Risk and Loss continued Financial Risk Legal Liability Environmental Health & Safety Information Management Intellectual Property Student Activities Auxiliary Enterprises Slide 7 CSURMA Joint powers authority (JPA) formed under CA Govt Code section 6500 et seq.; ultimately allows CSURMA to provide insurance programs, self- insurance programs, and related services to the 23 campuses, Chancellors Office, and auxiliaries. Separate legal entity from the CSU. Subject to open meetings (Bagley-Keene Meeting Act). California State University Risk Management Authority Slide 8 Programs in the CSURMA General Liability Program Workers Compensation Program Master Property Program IDL/NDI/UI Program Athletic Injury Medical Expense Program (AIME) Slide 9 Programs in the CSURMA continued Property Inland Marine Program AGPIP Auxiliary Group Purchase Insurance Program create market clout among the CSU Auxiliary Organizations to drive premium costs down through group purchase of insurance. Student Health Insurance Program (CSUSHI) Foreign Travel Liability Program Slide 10 Campus Risk Exposures On the Job Safety (internal & external) EPL Vehicle Accidents Vendors (contracts & product) Building Maintenance (repairs, IAQ, general maintenance, etc.) Facilities Use (internal & external) Reputation (internal & external) Slide 11 Headlines: Eight killed in Utah State University Van Rollover By Paul Foy ASSOCIATED PRESS 10:09 p.m. September 26, 2005 TREMONTON, Utah A Utah State University van returning to campus from a field trip blew a tire on Interstate 84 and rolled over, killing seven agriculture students and an instructor. Three other students were hospitalized. The van overturned Monday on the freeway near Tremonton, about 65 miles northwest of Salt Lake City. All 11 occupants were thrown from the van. The students were underclassmen, mostly freshmen. "Some have only been on campus a couple of weeks," university President Stan Albrecht said, calling the deaths an "incredible tragedy." No one in the 16-passenger van, driven by the instructor, was wearing a seatbelt, the Utah Highway Patrol said. Six men were pronounced dead at the scene. Two others died at hospitals. Two of the survivors were in critical condition at McKay-Dee Hospital in Ogden, hospital supervisor Robert Miller said. A third was taken to Ogden Regional Medical Center..... The single-vehicle crash occurred at about 4:30 p.m. It appeared the left rear tire on the eastbound van had blown as it tried to pass another vehicle, said patrol Lt. Ed Michaud. The Dodge van rolled four times, coming to rest on its wheels about six feet from a 50-foot-deep ravine, troopers said. The van's roof was collapsed to the windows. Parts of the vehicle and personal belongings littered the area near the freeway. "It was a horrific, nasty accident," said Trooper Jason Jensen. "It was one of those things you don't want to drive up on." Albrecht said the students had been on a field trip to look at harvest equipment near Tremonton, west of the Logan campus. Utah State University has about 21,000 students......A similar rollover shocked the school in April 2001. Six members of the men's volleyball club were injured when their Dodge van flipped over near Laramie, Wyoming. The crash prompted a government safety warning for large-sized vans. Slide 12 Field Trips What we think. The usual reality.. Slide 13 Obligations Know where the students are going. Prepare them for an emergency. Know in advance if there are health issues that may have to be dealt with. Review acceptable actions and unacceptable actions. Slide 14 Student Travel Approval = Acknowledged benefit Prepare the students for the travel risks, expectations, contacts Waivers versus Informed Consents Know who is where Options for those with disabilities Slide 15 The Accident 1. Have your contact information handy. 2. Report the accident to the campus (your supervisor or the Police) as soon as you can. 3. Do Not Admit Fault. 4. Do Not make promises. Slide 16 The Claim Theirs Victims Compensation & Government Claims Yours Victims Compensation & Government Claims Ours CSU Risk Management Program Administrators Slide 17 Government Claim Booklet State of California Victims Compensation & Government Claims Program Includes Instructions & Claim Form http://www.governmentclaims.ca.gov/ Slide 18 METHODS OF CONTROLLING RISK Avoidance Transfer of Risk Retention of Risk Reduce Risk through Loss Reduction Efforts Finance Retained Risk Define Meaningful Standards and Expectations Slide 19 EVALUTE LOSS POTENTIAL Evaluation Techniques Frequency/Severity of Claims Publications/Periodicals/Other Universities Political/Litigation Climate Anticipate Slide 20 The Challenges We Face Internal Weve never had that kind of loss What, change my procedure, Ive always done it this way! Ive taught this class for 20 years without a problem! All Risk Management has is: bad news with higher price tags! No communication! Slide 21 The Challenges We All Face External: The Insurance Market Your vendors Your constituents Unions Auxiliary Organizations Foundations Athletic Corporations Bookstores Food Services Health Centers Slide 22 OTHER RISKS TO CAUSE YOU WORRY Liability General, a wide variety of exposures, including civil liability arising out of accidents resulting from the premises or operations of a public university Employment- the trifecta of risk Expensive to defend Awarding of compensatory, special damages Awarding of plaintiffs attorney fees Automobile Public Officials Errors and Omissions Slide 23 Risk Managements Role Consults Reviews Forecasts Play what ifs Thinks worst case scenarios Recommends Manages insurance and claims Looks for process improvement through feedback Slide 24 Lets Team Up! RM&S Takes an Active Role: G.O. Observe Inquire Alert Collaborate Slide 25 Most Risks Do Have a Reward! Be prepared in order to enjoy.
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