Education Risk Assessment
An Education Risk Assessment (ERA) is a process we use at RCM&D to help our education clients uncover and identify potential gaps in insurable coverage and also hidden exposures. When you conduct a risk management needs assessment, you must start with identifying its major risks and prioritize how and if to manage the risks. The ERA also helps the school create a cross functional risk management program with buy-in from key leadership.
Advantages of an ERA:
- Focuses attention on major risks facing the schools
- Identifies opportunities to reduce costs
- Improves collaboration across organizational boundaries
- Creates education best practices.
- Identifies unknown risks
- Identifies alternative approaches to exposure treatment
Education Risk Assessment Outcome
Colleges and universities must continue to create solutions to identified risk exposures. RCM&D’s Education Risk Assessment presents the school with an understanding of risks and potential ideas to manage and mitigate insurance costs.
