| |
Risk Financing
To ensure that University diverse risks are managed in an efficient and economical manner, the University has pooled its risks into four self-insured programs. The assets and liabilities of the four self-insured programs are managed by the Office of Risk Services.
Support Contact: Karen Vecchi: 510-987-9826
The University of California, Office of the President, Office of Risk Management manages the four self-insured programs. All fund balances are managed in conjunction with the Office of Treasurer and Financial Management. The Risk Finance unit within the Office of Risk Services maintains the accounting records for the income and distribution of these funds.
Professional Liability and Workers' Compensation self-insured Programs Funds are maintained by a trustee. The trust agreement permits the trustee to invest in U.S. and state government, or agency obligations, corporate debit securities, commercial paper, or certificate of deposit.
Property and General and Automobile Liability, including Employment Liability funds are kept in University administered investments.
Required annual contributions for campuses, national laboratories, and medical centers are determined by actuaries for all four programs. The cost of miscellaneous insurance including specialty insurance and self-insured property costs are charged to campuses, national laboratories, and medical centers based upon their exposures for each type of risk being covered.
Risk Financing Documents: (pdf)
|
