Capital Assets and Financial Management

DBMG - Risk Management


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  • Overview
      A risk is the possibility of suffering harm or loss. Risk management is the process of minimizing risk in the planning process. 
  • University Policy
      • In order to minimize risk, university employees are covered through the Commonwealth of Virginia’s insurance program. It provides coverage that fully conforms to statutory requirements for workers’ compensation.
      • All injuries should be reported immediately on a first report of injury to the Department of Human Resources. For General Liability, the insurance coverage applies to anyone representing Virginia Tech, whether full-time, part time, paid or volunteer. 
      • For automotive liability, the coverage applies to state-owned vehicles and rented vehicles.  The program also provides full replacement-cost coverage, less a $250 deductible, for loss of university property due to theft, vandalism, etc. or destruction by wind, water, freeze, etc.  This coverage also applies to any Virginia Tech property in transit.
  • Departmental Responsibilites
      • Protecting the safety and well being of employees through good planning and preparedness
  • Internal Controls
      • N/A (not applicable)

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