Introduction

Consistent reporting of the University's losses is an important component of our Enterprise Risk Management culture. It allows us to:

• Measure our true "cost of risk"

• Increase the University’s risk intelligence – meaning how we gather information about risks, analyze, apply and learn from the results

• Identify negative loss trends and apply the needed resources

• Mitigate our costs for those losses where we may be legally liable

• Promptly address what insurance coverage may be available

• Promptly recover our expenses from a responsible third party

Reporting potential liability situations or loss / damage to your department's property is as simple as notifying Risk Management Services. And if the loss should be reported to another department, we will direct you to the appropriate area.

Even if you don't think there's insurance coverage or potential recovery available, still report your loss to us. We record all University losses in our database and prepare loss reports from this information. This information allows you to make informed decisions on how to handle future risks.

Notifying Law Enforcement of Your Loss

If your department's loss involves a criminal offense or other matter that should be reported to law enforcement such as automobile accidents, please do so promptly. If you file an incident report with UNC Public Safety, you do not need to notify us for property losses (other than automobile accidents). We receive their reports directly and will contact you.

What to Report

Risk Management Services wants to be promptly notified of all of the following occurrences:

• All automobile accidents involving University, Motor Fleet, rental or personal vehicles being used for official business (this includes comprehensive losses such as theft, vandalism and broken windshields)

• Any damage or theft to University property or on-loan property (i.e. theft, vandalism, fire, lightning, wind, hail, water, etc.)

• Any damage or theft to University property caused by a responsible third party

• All fiduciary losses such as employee embezzlement, misappropriation of funds or computer fraud

• Business interruptions arising out of the aforementioned occurrences

• All accidents or illnesses relating to the University's Study & Travel Abroad Insurance Program

• Any formal claim or allegation of medical malpractice for the School of Dentistry, School of Pharmacy, Department of Nutrition or Department of Epidemiology

• Any formal claim or allegation of professional malpractice under the University's Student Internship Professional Liability Insurance Program