Today’s education institutions face a wide range of risks: from campus security and safety, followed closely by compliance with government regulations, such as Title IX, the Violence Against Women Act, Patriot Act, to cyber risk and more.
Marsh's Education Practice understands the education environment and its unique exposures. These risks can damage an institution’s reputation, profitability, and even viability in the face of increasing public and government demand for board and trustee accountability.
Taking a consultative approach to risk management, we help institutions better understand their risks. Our risk assessment capabilities — backed by our dynamic risk mapping technology — help you benchmark, quantify, and manage financial and operational exposures in the areas of property, workers’ compensation, natural hazards, and more.
We combine consulting expertise with insurance placement tactics, providing a holistic solution for assessing risks, accessing proper, cost-effective insurance, and managing claims.
The result: Boards and trustees can rest assured that critical risks have been identified and addressed, and total cost of risk has been minimized.
In addition to campus security and regulatory compliance issues, research universities and colleges must also safeguard against liabilities involving on-campus activities, substances (chemical, biological, nuclear) and cyber risks — whether in the form of personal information hacks or professional espionage attacks on research and intellectual property.
Marsh has placed more than US$17 million in premium for dozens of public and private research educational institutions. Among the strategic, operational, and hazard exposures we assess and help manage are:
- Web-related risks and online teaching exposures.
- Student activities and sponsored events.
- Athletic liabilities including traumatic brain injury.
- International travel and study-abroad programs.
- Campus violence.
- Allegations of hazing, harassment, discrimination, and tenure issues.
- Intellectual property, clinical trials and technology transfer.
- Regulatory compliance and board accountability.
- Pollution exposures.
Higher Education Consortia
For public education systems, private higher education associations, and informal groups, Marsh has placed more than US$80 million in total premiums. We offer numerous risk assessment and management solutions for reducing total cost of risk, including:
- Property, casualty, and financial and professional liability coverage.
- Loss control.
- Alternative financing options (captive, trust, reciprocal, etc.).
- Actuarial review.
- Cyber liability risk assessment, advisory, and placement for schools.
Our experts have special expertise in developing “start-up” group programs, with deep understanding of group and individual member needs. We can help you transition to a fully operational consortium with well established governance provisions.