The Office of Risk Management is responsible for purchasing Indiana University's insurance (with the exception of life and health insurance), loss prevention and loss control and related safety and adjusting all related claims. This includes property claims, liability claims, auto claims, athletic injuries, and others.

We also administer the self insurance fund. This is a systematic means of using large deductibles or retentions to distance ourselves from the fluctuations of insurance markets, and to control the cost of commercial insurance. As an example, if we have a fire in one of our buildings, we will be responsible for the first $100,000 of the claim.

Beginning in 2005 Indiana University has a captive insurance company. This is an insurance company owned by IU and servicing IU, only. Old Crescent Insurance Company began operations February 1, 2005. We expect this new way (for us) of financing losses to result in substantial savings through the years.

As you may guess, we stress loss prevention and control. Loss prevention means the loss never happens. Examples of loss prevention measures are good housekeeping and driving safely. Loss control means limiting a loss when one occurs. A good example is the use of sprinkler systems to control fires.

If a loss does occur, our staff of adjusters investigate and adjust the claim. If the claim is large enough to involve commercial insurance carriers, we act as the interface with them. University departments deal with us, and we deal with the commercial insurance world.

We hope you find the information on these pages useful. If you have suggestions or comments, please contact   Larry Stephens at stephenL@indiana.edu.