Risk Management proactively manages the University of Maine’s loss exposures by identifying the types of accidental losses faced by the University, analyzing the different types and sizes of these loss exposures and deciding how to handle and finance these losses.
Risk Management uses a combination of commercial insurance, self-insurance, risk avoidance, risk transfers and effective claim management. The department recognizes that the University by its very nature is a constantly changing, dynamic entity. The aim is to protect the University and enable it to accomplish its educational, social and economic missions.
Insurance requirements outlined in Attachment B of the contract templates are in place to protect the interests of the University including trustees, directors, students, faculty, staff, and our property. The minimum requirements outlined in that attachment are used to safeguard the institution and to protect the financial interest of the University should a loss occur on our grounds, through no fault of the school but caused by a contractor, vendor, or other entity using our facilities. Requiring vendors, contractors, etc. to obtain insurance provides the University with assurance that they (contractor/vendor) will have the financial capacity (insurance funds) to back up the promise and/or commitments made in the hold harmless and indemnification agreements. Therefore, general liability, auto, workers compensation, professional liability, and/or marine liability insurance policies may be required depending on the scope of work outlined in the contract.
Gretchen Catlin – University System Risk Manager I – 207-621-3038 – email@example.com
Marlene Brackett – Unified Claims Coordinator I – 207-621-3098 – firstname.lastname@example.org