The Risk and Insurance Unit is responsible for administering risk management and insurance programs in compliance with the Universities policies, procedures and countries legislation (Campuses). The unit manages the universities insurance policies with the exception of the ‘USP Staff Medical Benefits’ which is managed through the Human Resources Department and 'Student Medical Benefits' which is managed by Campus Life.
Traditional risk management focuses primarily upon insurance or contract solutions to address risk challenges. Although insurance is important, Enterprise Risk Management (ERM) considers a greater range of risks. It maintains a focus on the big picture, ‘The Universities Mission, Strategies and Objectives’ and is committed to managing risk as an integral component of the Universities operations to maximize opportunities and minimize setbacks. Risk management plays a role in every decision and every staff can practice risk management using tools such as training, communication, monitoring, reviewing, assessment, identifying controls etc.