Enterprise Risk Management & Insurance

Our mission is to proactively identify, assess, mitigate, and monitor risks that could impact our students, faculty, staff, visitors, and vital institutional assets. In an environment as dynamic and diverse as a leading academic institution, ensuring the safety, security, and sustained operation of our community is paramount.

The department of ERMI serves as a central resource, dedicated to fostering a culture of risk awareness and resilience across campus. We believe that by effectively managing potential exposures, we empower our university to pursue its academic mission, groundbreaking research, and community engagement with confidence and stability.

Our comprehensive services are designed to protect Laurentian’s interests and support its strategic goals. We provide guidance and resources in a variety of key areas, including:
 

• Insurance Program Management: We are responsible for the procurement,
  maintenance, and administration of the university's comprehensive insurance portfolio. This includes property and casualty insurance, liability coverage, special event insurance, and various other policies designed to protect university assets and operations. We ensure adequate coverage for all university activities, from campus events to international research initiatives.
   
• Risk Identification & Assessment: Through collaborative partnerships with all
  departments across the university, we work to identify potential risks – financial,
  operational, reputational, strategic, environmental, and safety-related – and assess their potential impact. Our goal is to anticipate challenges and develop strategies to minimize their likelihood and severity.
   
• Risk Mitigation & Control: We develop and implement strategies to reduce the impact of identified risks. This involves advising on best practices, creating guidelines, developing policies and procedures, and working with departments to implement controls that enhance safety, reduce losses, and ensure compliance with relevant regulations.
   
• Claims Management: In the unfortunate event of an incident or loss, our team manages the claims and claims reporting process, working with insurance providers and internal stakeholders to ensure efficient resolution and minimize disruption to university operations.
   
• Training & Education: We are committed to fostering a risk-aware culture. We provide workshops, resources, and guidance to faculty, staff, and students on various risk management topics, including emergency preparedness, travel safety, and contractual risk.
   
• Contractual Risk Review: We review contracts and agreements to identify and advise on potential risks and liability exposures, ensuring that the university's interests are protected in all its partnerships and ventures.
   
• Emergency Preparedness & Business Continuity Support: While primary
  responsibility for emergency response lies with dedicated campus safety teams, we collaborate closely to ensure comprehensive planning for potential crises, supporting the development of business continuity plans to maintain essential university functions during disruptions.

Our oversight extends across the multi-facetted operations of Laurentian University, touching all aspects of campus life and academic pursuit. This includes, but is not limited to:
 

• Campus Operations & Facilities: Ensuring appropriate insurance and risk mitigation strategies for buildings, infrastructure, and day-to-day campus activities.
   
• Academic & Research Activities: Addressing risks associated with laboratory work, field trips, research projects, work placements and specialized equipment.
   
• Student Life & Services: Providing guidance on risks related to student events,
  residences, athletic programs, and international student experiences.
   
• International Travel & Programs: Assessing and mitigating risks for university-
  sanctioned travel, study abroad programs, and international partnerships.
   
• Contractual Agreements & Partnerships: Reviewing and advising on risk implications within all university contracts, leases, and agreements.

• Special Events: Providing expertise and insurance solutions for a wide range of
  campus events, conferences, and public gatherings.
   

  At Laurentian, the Department of Enterprise Risk Management & Insurance is more than just a service provider; we are a strategic partner in advancing the university's strategic plan responsibly and sustainably. We invite you to explore our resources and connect with our team to learn how we can support your department or activity.
  
  Questions on how we can support you? Email us!