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The Risk Management Executive Committee will meet quarterly or at the call of the Chair. Meetings will be coordinated with the schedules of the Medical Liability Management Committee when possible.
The responsibilities of the committee include:
- Assess the overall effectiveness of the University of Texas System's risk management processes.
- Assuring the University of Texas System's risk financing strategy balances retention of uninsured risk and those risks underwritten through commercial insurance in a manner consistent with available financial resources and public expectations.
- Emphasizing and enhance Systemwide communication regarding best practices in administering risk management processes and programs.
- Providing guidance on the identification, evaluation and assessment of the most significant risks and exposures arising out of the University of Texas System's operations in a systematic and on-going basis.
- Providing guidance on the selection and development of the most effective techniques or combination of techniques to control and finance risk.
- Providing guidance on the implementation of realistic and cost effective loss prevention and control procedures to minimize the frequency and severity of losses.