7.14 Subject: RISK MANAGEMENT AND INSURANCE
Adopted: September 12, 1996

Applicability

This policy applies to all members of the University community and to all property owned or controlled by the University.

Policy

It is the policy of the University to take reasonable steps to avoid accidents that could result in injury or death to students, faculty, staff, and visitors, and to protect the physical resources of the University against loss or damage. The University, therefore, will have an active safety and loss prevention program. The program will also provide for the proper handling and disposition of hazardous materials, pursuant to applicable laws.

The University will provide opportunities for its students and employees to purchase medical and accident insurance. Liability insurance covering the University and its "public employees," as defined in the New Mexico Tort Claims Act, property and casualty insurance, workers' compensation insurance, and health care liability coverage for health care students are provided by the Risk Management Division, General Services Department, of the State of New Mexico.

The Board shall approve the establishment or elimination of any alternative insurance or self-insurance program.

Implementation

In cooperation with the Risk Management Division, the University will carry fire and extended coverage insurance on its buildings, heating and cooling systems, and major equipment; and workers' compensation, unemployment compensation, medical malpractice, and comprehensive general liability insurance to protect itself and its employees, consistent with the New Mexico Tort Claims Act.

The University will offer to all its active and retired permanent faculty and staff employees several different plans of group health insurance coverage which the University co-pays in accordance with state law. University employees may also purchase group life insurance, accidental death and dismemberment insurance, and long-term disability insurance coverage for themselves and their families through the University.

The University will offer one or more health insurance policies to its students each year.

The President shall report annually to the Board on the status and financial condition of the University's risk management and insurance programs.

References

Tort Claims Act, § 41-4-1 et seq., NMSA 1978; Workers' Compensation Act, §52-1-1, et seq.; Group Benefits Act, §10-7B-1, et seq.

Comments should be sent to BRPM@UNM.edu

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The University of New Mexico
Albuquerque, New Mexico