Policy 3.26: Risk Management
The objective of Haywood Community College's risk management program is to identify and analyze loss potential and prevent the occurrence of loss to the maximum practical extent. The Vice President of Administrative Services serves the function of risk manager. The responsibilities of the risk manager in a broad sense are:
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Identification, evaluation, and analysis of risks.
Through a cooperative effort with other Vice Presidents, the President, the trustees, and all faculty and staff, risks should be identified, evaluated, and analyzed. Insurance brokers, insurance specialists and other consultants may be used as need arises. -
Risk Control.
Where possible, risks should be minimized or avoided. This is accomplished through loss prevention or reduction in risk. The institution should use constant vigilance to avoid unintentional retention, assumption or acceptance of risk. Many risks may be feasibly transferred to insurance carriers or others. This action reduces risk to a certainty. -
Insurance.
The institution will seek an insurance company competitively to ensure a wise expenditure of its premium dollars. The following types of insurance coverage should be sought: property insurance (building and contents), liability insurance, worker's compensation, student accident and health, and automobile coverage.
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