The Office of Enterprise Risk Management (ERM) coordinates the University’s risk management efforts. It provides a framework for risk management that promotes a deliberate, coordinated, and anticipatory approach to risk identification, evaluation, and management. All Yale University faculty, staff and students have a responsibility to identify and manage the risks associated with their activities, and the Office of ERM Office is a resource for risk management advice so that activities are carried out in a manner that considers safety, financial, reputational, or legal risks. The Office has primary responsibility for negotiating and ensuring the sufficiency of the University’s insurance portfolio, oversight of insurance claims, and development of various risk and loss control programs. Members of the Yale community are encouraged to contact the ERM Office with any questions or concerns related to proposed activities, with respect to loss prevention, life safety, premises liability, automobile liability, worker’s compensation, claims recovery, or any risk related matters.
The Enterprise Risk Management Office achieves its goals by:
Performing Risk Assessments to identify risks and methods to deal with such risks
- Serving on University Committees that address risks and safety concerns
- Collecting and communicating exposure and claims data
- Analyzing the information proactively and reactively to identify specific incident trends or categories.
- Developing risk control and accident prevention programs and policies to address trends
- Reviewing activities and developing techniques to control the associated risks
- Negotiating, purchasing and maintaining a competitive insurance program
- Analyzing and implementing alternative risk transfer and risk financing methods
- Negotiating and settling property, liability and automobile claims in conjunction with third party claims administrators, and/or defense counsel
- Creating and distributing of Executive Reports and institutional metrics