- Identify, evaluate and assess the most significant risks and exposures
arising out of The University of Texas System's operations in a systematic
and on-going basis.
- Select and develop the most effective techniques or combination of
techniques to reduce risk.
- Implement realistic and cost-effective loss prevention and control
procedures to minimize the frequency and severity of losses.
- Monitor the overall effectiveness of The University of Texas System's
risk management processes.
- Include principals of risk management in the decision process for
adoption of new programs, services and facilities.
- Assure The University of Texas System's risk financing strategy
balances retention of uninsured risk and those risks underwritten through
commercial insurance in a manner consistent with available financial
resources and public expectations.
- Emphasize and enhance Systemwide communication regarding best
practices in administering risk management processes and programs.