What Is Risk?

Risk is defined as “uncertainty” of whether a loss will occur, when it will occur, its size or severity, how frequently it will occur, and what its impact will be.

The Risk Management Office supports the core mission of Babson College by protecting the assets and earnings of the College from accidental loss, and assuring the continued ability to operate and deliver services. The Office establishes and implements Risk Management policies and procedures by identifying and quantifying the College's exposures to accidental loss.

When to Contact Risk Management

• When reviewing new contracts, implementing changes to standing contracts, or renewing existing contracts:
• If the College is accepting Volunteer Work or when the College is Volunteering to Work
• When beginning a new sport or other club, increasing club membership, or changing club or athletic activities
• If traveling to an international location outside of Babson’s outreach through the Office of International Programs
• For evidence of Babson College insurance
• For guidance assessing and managing the risk a specific activity or relationship might pose to the Babson community

Risk Management Provides Online Guidance for Risk Issues

Insurance-Related Events

• Filing/Reporting a Claim
• Babson College Certificate of Insurance Request Form
• Property Insurance Information for Students
• Insuring New/Existing Property
• Insuring Borrowed or Loaned Property  

General Risk-Related Issues

• Contract Management
• Risk Assessment 
• Travel Abroad and Return Policy
• Driver and Vehicles Use Policy