LESS THAN ONE IN FOUR COLLEGES ASSESS RISKS



A survey concludes that colleges and universities take a less proactive approach in managing their various risks.

According to the survey conducted by the Assn. of Governing Boards of Universities and Colleges and higher education insurance company United Educators Insurance, less than one-fourth of colleges regularly assess how they could prevent or respond to risks including criminal acts, environmental catastrophes and financial misconduct.

The survey of more than 600 college administrators also found only half plan for such risks after they've already happened—or an audit tells them it's necessary.

``This data is certainly a wake-up call for higher education leaders that they need to make enterprise risk management a priority now,'' Janice Abraham, president and chief executive officer of Chevy Chase, Md.-based United Educators Insurance, said in a statement.


Ironically, presidents were more optimistic about risk reduction efforts than chief financial officers, ``who are most frequently delegated risk management responsibilities,'' according to the survey at www.ue.org.