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Safety First

Insurance and Risk Management strives to minimize the costs and risk associated with accidents or unexpected events that jeopardize the well-being of the Rose-Hulman community.

Our office provides support and guidance to faculty and staff to help prevent loss.

By failing to implement good risk management practices, the mission of educating students could be compromised. Every dollar spent on worker injuries, liability claims, property damage and insurance premiums are dollars diverted from education.

 

We are concerned with the protection of assets—human or physical. These assets are often put at risk because of hazards or sources of danger. The probability that a loss or injury will occur can be evaluated and minimized/eliminated by following risk management techniques such as:

  • Risk Identification—identifying and measuring all risks of accidental loss through inspections, review of contracts, and review of losses.
  • Risk Reduction—reducing the frequency and severity of losses through loss control and safety techniques.
  • Risk Retention—using Institute funds to pay for claims that are not covered by an insurance policy or third party.
  • Risk Transfer—hold-harmless agreements, obtaining certificates of insurance from groups that use our facilities and the purchasing of insurance.
  • Risk Elimination—eliminating exposure or risk determined to be too costly to insure or retain by the Institute.

 It is far better to uncover and mitigate potential problems before an accident occurs.

 

Three basic questions guide the decision-making process involved in Risk Management:

  1. What can go wrong?
  2. How likely is it to happen?
  3. If it does happen, what will be the consequences?

 

Butts Susan 2011

Susan Butts

Manager, Insurance/Risk Management
Phone: 812-877-8457