Since 1994, most of the IUC Universities have purchased their group property and casualty insurance on a group basis. The IUC-Risk Management Insurance Consortium (“RMIC”) formalized their pooling in 2006 and created the Board of Governors. The Board of Governors comprises representatives from each University (excepting The Ohio State University) and is the decision-making body for insurance issues of the group programs. There are four committees that report to the Board of Governors: Risk Management; Risk Control; Claims; and Finance, Audit and Investment. Risk Management and Risk Control have representation from each University. In 2015, the consortium was incorporated as a 501c3 non-profit corporation..
Board of Governors
Each Member University acts through its respective representative on the Board of Governors. That representative is appointed and serves the Board as a Governor as provided in the Pooling Agreement and Article II of the By-Laws. The powers granted to the Organization by the Pooling Agreement or otherwise shall be vested in and exercised by the Governors. Each University has one vote on the Board of Governors.
Risk Management Committee
The Risk Management Committee will have the responsibility of reviewing and making recommendations as to the status of the Organization’s insurance programs and structure, including the amount of deductibles, premium allocations, and selection of the Organization Broker(s). The Risk Management Committee members will make decisions on appropriate lines of coverage benefiting the Organization.
Risk Control Committee
The Risk Control Committee will have the responsibility for preparing risk control analysis and implementation programs, in cooperation with the Organization Broker(s) and the Risk Management Committee to support effective total risk control programs at the member institutions.
The Claims Committee will have the responsibility for recommending policies and procedures for the resolution of claims against the Members. This will include authorization of settlements, and the structure of settlements.
Finance, Audit and Investment Committee
Finance, Audit and Investment Committee
The Finance, Audit, and Investment Committee will have the responsibility for oversight of all financial and audit affairs of the Organization including consideration and recommendation of all policy matters relating to the Organization’s fiscal operations. The committee should include members with financial expertise. The Committee will oversee the integrity of the financial statements, external audit, and Organization investments, while monitoring the qualifications and performance of the independent accountant, bank, investment advisor, auditor, and actuary. The Finance, Audit, and Investment Committee also maintains oversight of the required state filings for the Organization’s business entity.
IUC-RMIC coverage for member institutions includes:
Auto Physical Damage
Educator's Legal Liability
Employee Benefit Liability
Law Enforcement Liability
At the direction of the Board of Governors, the IUC-Risk Management and Insurance Consortium (IUC-RMIC) Executive Director supports the planning, direction, coordination and maintenance of all activities of the IUC Risk Management and Insurance Consortium. These duties primarily include oversight of the membership, governance, self-insurance pools, programs, claims, and risk control initiatives and may evolve to align with program objectives.
Develop and direct the IUC-RMIC by leading the operations and providing vision and strategic thinking for future direction under the guidance of the IUC-RMIC Board of Governors and on behalf of the membership.
Collaborate with IUC-RMIC members and the consortium as a whole in the development of innovative risk management and loss control strategies, bringing forth new ideas and working toward implementation.
Maintain awareness of legal, regulatory, legislative, and competitive environment affecting the insurance industry and non-profit corporations.
Facilitate all financial transactions for the consortium, and manage regulatory compliance as required for 501c3 status.
Assist the IUC President as needed in advocating for the IUC-RMIC with state officials.
Take responsibility to make recommendations for program policy change necessary to align with program objectives, subject to IUC-RMIC approval.
Coordinate all IUC-RMIC committee activities, including but not limited to, coordination of calls and meetings, preparation of materials, agendas, and minutes, and the completion of the IUC-RMIC annual report.
Manage and coordinate all third-party service providers, including RFP process, negotiation of contracts, bids for services, and act as a point of contact for service issues.
Through annual visits to each member institution, identify opportunities to recognize member needs, risk identification, risk improvement and communicating best practices across the membership.
Facilitate renewal process, and act as a liaison and advocate for IUC-RMIC with brokers and carriers.
Review insurance policies, including endorsements, for appropriateness and accuracy of coverages.
Serve as a resource and advocate for IUC-RMIC member institutions in addressing issues pertaining to insurance, self-insurance, and claims management.
Desired Skills and Qualifications
Bachelor's degree required.
10 years of experience in supervising a risk management program; or equivalent combination of training and experience that provides the necessary knowledge, skills and abilities to include:
Thorough knowledge of the current principles, practices, and techniques of risk management and insurance regulation.
Ability to research, analyze, and provide recommendation regarding all aspects of a group property and casualty programs.
Ability to understand, interpret, and explain policies, procedures, and written and oral instructions related to risk management and insurance coverage and practices.
Ability to effectively communicate through both oral and written means.
Ability to collaborate, establish and maintain effective working relationships with staff, members, brokers, consultants, state officials, outside agencies, and the general public.
Experience in higher education risk environment highly preferred.
Possession or attainment of ARM, CRM, or CPCU certification desired.
Through conversations with members of the RMIC Board of Governors and other key stakeholders, the following were identified as desirable attributes for the next Executive Director of the RMIC:
The Inter-University Council of Ohio (IUC) was established in 1939 as a voluntary educational association of Ohio’s public universities. Today, the association represents Ohio’s 14 public universities. Together, these institutions offer a broad range of associate, baccalaureate, graduate and professional programs. The association’s purpose is to facilitate the development of common interest and concern of its members and to assist in sustaining and improving the quality of public higher education. IUC also engages in public relations, research and government liaison work on behalf of its members.