Risk Management & Insurance

Mission Statement

The mission of the University's risk management function is to prevent loss of life and personal injury, to protect and secure University assets, to avoid possible injury to persons using University facilities and to keep to a prudent minimum the cost of managing risk.  

Responsibilities

• Creating an awareness of risks which could cause loss to Ferris State University assets or interfere with the University's ability to continue functioning as an educational institution.
• Making recommendations to the President and the Board of Trustees, through the Vice-President for Administration and Finance, with respect to the best techniques for controlling and financing risks.
• Investigating and studying risk, searching for potential sources of losses, and determining methods of avoiding and preventing losses
• Coordinating insurance audits and claims and supervising the collection of losses.
• Reviewing all major undertakings at the University from a risk management point of view.
• Processing the renewal of all insurance policies, including the updating of property values, evaluating retention levels, and requesting market testing.
• Keeping current those values on University assets that require insurance coverage.
• Fulfilling requests for information relating to liability and property coverage lines.
• Participating on the Board, standing committees, and ad hoc committees for the Michigan Universities Self-Insurance Corporation and the Midwest Higher Education Compact Master Property Program.
• Provide a program of services and activities to assist colleges and departments in protecting faculty, staff, students, visitors, and the environment.