General Liability: $1,000,000 Per Occurrence.Property Insurance (To Include Boiler & Machinery and Inland Marine): Sufficient Value to Replace the Institution's Physical Assets.They shall consult with the cognizant Vice President where appropriate.Īt a minimum, the University will purchase the following insurance coverages and limits: Only the Vice President for Finance and Treasurer and the Senior Director of Environmental Health, Safety and Risk Management are authorized to negotiate or secure insurance coverage on behalf of the University. When purchasing insurance, the University will consider the scope of coverage, the services offered by the insurer, the reliability and financial stability of the company, and the price of the coverage as competitively determined. Therefore, it is not the institution's practice to insure against all foreseeable and bearable expenses when acceptable alternatives can be achieved. The University is able to predict certain risks and thereby budget for related losses, which are financially limited. The Senior Director of Environmental Health, Safety and Risk Management is responsible for the University's risk management program including the identification, measurement, evaluation, reduction, and monitoring of risks the purchasing of insurance when deemed appropriate and the processing of claims. This policy applies to all faculty, staff and student organizations. According, the University ensures that the human, property, and financial assets of the institution are adequately protected through a program designed to: 1) identify potential losses 2) measure the impact on the resources of the University should a loss occur and, 3) apply appropriate risk handling techniques to minimize the effect of a loss on the University. Risk management is necessitated by the uncertainty of loss and liability relative to the University's property and the actions of those individuals representing the institution. It serves as an umbrella for all other frameworks, codes and operational guidelines related to ERM.Senior Director of Environmental Health, Safety and Risk Management, tel (202) 319-5789 This ERM Policy supersedes and replaces IFAD’s existing 2008 Policy on Enterprise Risk Management. This includes operationalizing the ERM Policy through development of frameworks, operational guidelines, and/or training to embed the ERM Policy and its principles throughout IFAD, as well as oversight of business line implementation of risk management measures.
IFAD’s Office of Enterprise Risk Management (RMO), led by the Director and Chief Risk Officer (CRO), is responsible for overseeing the design and implementation of the ERMF. It defines the key roles and responsibilities of ERM stakeholders, and is based on a comprehensive enterprise risk taxonomy. This ERM Policy establishes a formal, systematic and integrated, principles-based approach to identifying, managing and monitoring risks in IFAD. It establishes the Fund’s risk management structure and sets out the minimum requirements and expectations for the active management of risk in IFAD’s operations. This new ERM Policy is an essential component in the development and maintenance of sound ERM practices.
Facility for Refugees, Migrants, Forced Displacement and Rural Stability.Climate and Commodity Hedging to Enable Transformation.China-IFAD South-South and Triangular Cooperation Facility.Adaptation for Smallholder Agriculture Programme.Near East, North Africa, Europe and Central Asia.
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