Abstract: Insurance represents an integral part of risk assessment and business continuity planning for institutions. However, historically it has often been hidden in institutional governance activity rather than being an overt part of Research Management. The introduction of the Insurance Act 2015 changed the regulatory environment to include a ‘duty of fair presentation’ as a requirement for full insurance cover for all activities including research, with new insurer remedies for breach. This brings the insurance management into the heart of Research Management and Research Integrity activity. High value projects and specialist equipment are obvious ones to flag up for cover, but how do you judge high value? What about changes of research activity mid-project? Have colleagues properly considered the risks associated with the loss of months or years of sample preparation? How does it work for collaborations or partnerships? Using a Research-Intensive Institution as a case study, the session explores the challenges and learning that have arisen for risk managers, researchers and research managers in implementing the risk assessment and information gathering process required by the act. It looks at the role of Research Managers in insurance as part of risk management and research integrity.
Key Learning Points:
- Understand the challenges associated with collecting information for insurance specialists.
- Look at ways that effective insurance risk management can reduce costs .
- Understand where insurance can provide effective risk transfer and where it can’t.
|Sue Robson||Brunel University London|
|Nick Hobbs||Brunel University London|
|Dr Tracey Henshaw||Brunel University London|
|Date:||7th Jun 2017|
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