Key Insights from #URMIA2017

university-courtyard-urmia2017

Old Republic was a proud sponsor of the 48th annual URMIA (University Risk Management & Insurance Association) conference that took place from September 23rd through September 27th. The conference provided attendees with the opportunity to explore risks that confront higher education risk managers, discover best-practices for risk management, and enjoy a mission-focused atmosphere of fun and learning. The conference offered educational workshops and insightful sessions on a variety of topics including cybersecurity, Enterprise Risk Management (ERM), fostering a risk aware culture in higher education, and current claim and litigation trends. As we’ve seen in previous years, the conference offers networking opportunities to meet with clients, prospects and key industry players in a face to face setting.

An overview of higher education and the industry

The risks and exposures of higher education environments continue to evolve quickly due to technology and other factors such as international travel, cyber risk, fraternity and sorority life, workers’ compensation challenges (including an aging workforce and comorbidities), research labs and expansive campuses. The conference offered higher education risk managers the opportunity to share information and best practices.

A frequent topic during the URMIA conference was ERM practices for colleges and universities. One ERM session included the results of a benchmarking study of 29 liberal arts colleges. This was very insightful in understanding enterprise risk perceptions and priorities across the higher education landscape. It also enabled attendees to develop metrics to benchmark ERM at their institution. We also know that effective risk managers must be influential in their organizations. Other key topics at the conference included communicating ERM progress and advancing ERM in higher education.

Networking and relationship building

URMIA hosted networking receptions, as did Old Republic and several industry experts. URMIA continues to provide an excellent venue for connecting and interacting with the industry’s key higher education participants and clients, allowing for idea sharing and collaboration and gaining a stronger understanding of market and client needs. Old Republic had representatives attending the conference from two strategic operating companies – PMA Companies and Old Republic Specialty Insurance Underwriters. For more information on our offerings, please visit www.orgig.com.

Michael MacAulay, Senior Vice President

Mike is the Senior Vice President of Sales for PMA Management Corp., part of PMA Companies' TPA Operations.