2601 - Departmental Scope

The Office of Risk Management & Insurance is responsible for the purchase of property and casualty insurance coverage to protect the University, Penn Medicine, and its subsidiary or controlled entities against risk of financial loss.

The Office of Risk Management & Insurance is solely authorized to negotiate related services with insurance brokers, carriers and claims service providers. Negotiations with attorneys are to be performed in consultation with the Office of the General Counsel.

The Office of Risk Management & Insurance is responsible for coordinating the risk management, data collection and claims accounting activities of the University and Penn Medicine in the areas of property, general and automobile liability, environmental liability, student athletic injury liability, workers’ compensation, dental professional liability, veterinary professional liability, medical student professional liability, and executive protection liability which includes trustees and officers liability, fiduciary liability, and fidelity liability. The Office identifies and evaluates areas of potential exposure to risk and implements measures to reduce the risk of loss.

The Office of Risk Management & Insurance in consultation with the Office of the General Counsel is responsible for investigating, evaluating and managing claims or potential claims made against the University and Penn Medicine in the areas of property, general and automobile liability, environmental liability, student athletic injury liability, workers’ compensation, dental professional liability, veterinary professional liability, medical student professional liability, and executive protection liability which includes trustees and officers liability, fiduciary liability and fidelity.

Operating units of the University and Penn Medicine are to cooperate fully with the Office of Risk Management & Insurance and the Office of the General Counsel in the management of claims and related litigation to which the University, Penn Medicine, its employees or agents may be a party.

The Office of Risk Management & Insurance is responsible for educating operating units of the University and Penn Medicine with respect to the scope of the property/casualty insurance coverage, appropriate claims reporting guidelines, and other insurance related procedures.

The University maintains insurance coverage consistent with all applicable state and federal regulations.