The University of California is continuing to see significant cost savings through new, innovative streamlining efforts in its Risk Services division. Since 2005, the Risk Services division has saved the university approximately $101 million, in large part through implementing loss-prevention programs such as its Be Smart About Safety program. These effective, cost-saving programs will be showcased at the fourth annual UC Risk Summit, March 3-5, in Burlingame.

The summit, a three-day conference for UC departments, provides the opportunity for education, training and updates on risk management issues, including ongoing initiatives on providing savings to the university.

Chief Risk Officer Grace Crickette will be on hand to discuss a number of these key programs, including Be Smart About Safety, which provides campuses and medical centers with resources to support and improve worker safety programs in order to prevent injury. Since 2004, the Be Smart About Safety program has helped UC reduce workplace injuries by 28 percent. As a result, the university was able to return approximately $31.5 million to campuses and medical centers for use in operations and safety due to the savings in the cost of workers' compensation and the other liability programs.

UC Risk Services oversees a large area of operations for the university, including developing and implementing all systemwide risk financing programs, insurance and self insurance; managing claims and litigation associated with these programs; and identifying risk exposures and implementing loss control. Risk Services is committed to supporting the university in efficient and effective operations while creating a safe environment for students, patients, employees and visitors.

Risk Services continues to introduce a variety of forward-thinking programs that have resulted in the university achieving operational benefits along with important cost savings. Risk Services has been successful in this endeavor by carefully monitoring university risks, focusing on loss prevention and emphasizing cost-saving measures in the traditional areas of liability management. UC Risk Services relies on actuarial science and key industry experts to ensure their initiatives will provide a good return on investments. In addition, Risk Services has developed new policies and programs designed to bring more effective service and better results.

New Risk Services programs include:
• UC Risk Management Leadership Council: The university has formed a leadership council made up of risk manager leaders from all UC campuses and medical centers. The council is improving operational efficiency by working on key issues of common concern and developing systemwide solutions.
• Expanded student and faculty travel insurance: UC travel insurance for faculty and students now provides rescue and medical evacuation, if needed, and coverage in politically risky countries where student and faculty often study and conduct research. The program was expanded to provide more coverage for less money by consolidating and centralizing services.
• Restarting UC business continuity planning program: UC is introducing a new software program that will enable all segments of the university to develop preparedness operations for everyday emergencies and security events. The award-winning, business continuity planning software tool allows for a coordinated approach during critical safety and emergency events.
• UC Occupational and Employee Health Advisory Coalition: The coalition focuses on the prevention and treatment of work-related injuries along with the promotion of employee health. The coalition provides direction and leadership in the area of occupational health, as well as in the development of an integrated approach to the physical and emotional needs of UC employees.
• The 4%/6% Prescription: The university's medical professional and hospital liability program has implemented a program aimed at improving patient safety by the use of premium rebate funds to support patient safety and loss-prevention initiatives.
• Learning management system: UC Risk Services is collaborating with campus and medical center groups to improve the dissemination of information throughout the large organization.
• Enterprise risk management: UC Risk Services is supporting the implementation of enterprise risk management (ERM), aimed at improving organizational efficiency through consideration of operational, strategic, compliance and other risks and identifying controls.

UC Risk Services is putting in place the ERM program to address all organization risks, including financial, strategic, reporting and compliance. ERM will enhance the university's ability to monitor its risk controls, providing even greater cost savings in the future.

For information about Risk Summit 2008: www.ucop.edu/riskmgt/summit2008.html

For more information about UC Risk Services: www.ucop.edu/riskmgt/welcome.html

For UC Risk Services quarterly newsletters: www.ucop.edu/riskmgt/newsletters.html

For more information about the University of California:
www.universityofcalifornia.edu