About Risk Management

What Is Risk Management?

Risk management (RM) is the continuous process to identify, assess, and prioritize risks in an effort to control, avoid, minimize, or eliminate the effects on an organization's assets. Risks can come in a variety of forms, including some predictable and unavoidable as well as those unexpected yet preventable. Organizations use risk managers to negotiate risk assumption, avoidance, retention, transfer, or any other strategies among leadership, stakeholders, and insurance providers to appropriately manage and mitigate risk.

Man at a flipchart explaining the concept of Risk Mangement

Risk Management in Higher Education

Every day, risk managers in higher education help their colleges and universities find ways to say "yes" to ideas, initiatives, and opportunities while managing and mitigating potential impacts to their institutions' assets. College and university assets go far beyond the physical and financial and include faculty, staff, and students, as well as the institution's reputation.

Higher education risk managers stay on their toes as they address a huge variety of ever-changing risks, including emergency management, reputational risk, insurance coverage and claims, minors on campus, sexual assault response, cyber security, natural disasters, international travel, and much more.

Managing risk in higher education is often an enterprise-wide initiative that involves every department and individual; risk managers cross campus silos as they initiate risk mitigation strategies that can impact a college freshman all the way up to the institution's president.




How Does URMIA Advance the Profession?


University Risk Management and Insurance Association (URMIA) is a non-profit professional membership association which actively facilitates discussion and coordination among risk managers and service providers, or affiliates, of higher education institutions. Our volunteer leaders, who are experienced risk managers, along with our National Office staff provide member-only insights and resources available to all URMIA members, including URMIAnetwork online discussion communities.


A gathering of people new to the profession of risk management in higher education


URMIA continually develops risk management tools and services for professionals, such as our Core Competencies for Higher Education Risk Managers. Members use this framework of individual characteristics—including knowledge, skills, abilities, and behaviors—to identify proficiency and excellence at different career levels and within the overall profession. Other innovations include a comprehensive Risk Inventory targeted to higher education and a customized Peer Review service.


URMIA is known for hosting informative and enjoyable conferences, webinars, and live conversations. Our programming is available to both members and non-members. All are welcome.

Learn more about URMIA's mission and explore the many benefits of URMIA membership.

URMIA developed a set of competencies to guide professional development for risk managers in higher education.