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I. Title of Policy
II. Objective of Policy
To reduce exposure to possible loss at Brookdale Community College and to have an alternative to the College’s insurance.
New Jersey Statutes 18A:64A-12
IV. Policy Statement
The President is authorized to establish a Risk Management Program. The program shall be a proactive plan, with the intention of reducing the cost of risk (defined as the sum of insurance premiums, self-insured losses, loss control costs and administrative expenses) to a prudent minimum by the establishment of a responsible Risk Management Program.
The President is responsible for establishing a Risk Management Fund that shall be used only to cover self-insured losses, loss control costs and administrative expenses.
V. Responsibility for Implementation