The objective of the University's insurance programme is to preserve the University's assets and earnings. In implementing this general philosophy, it is the policy of the University to:
- Identify sources of loss to property, income, employees or the general public
- Retain risks whenever the amount of potential loss would not significantly affect the University's assets and earnings
- Purchase insurance in such amounts and in such areas as will provide assurance against catastrophic loss where insurance is required by law or contractual agreement, when desirable services are obtained from the insurance carrier: and where the degrees of risk, compared with the cost of insurance, dictates the economic feasibility of purchasing insurance coverage.