The concept of risk management has evolved as a common sense approach to managing the “insurable  risks” of any undertaking, and is different from the standard approach in that it recognizes that  there may be alternative techniques to handling inherent risk, (other than purchased insurance which is frequently the most expensive option) and recognizes that certain entities, such as CUNY, are an education corporation pursuant to New York Education Law Article 125. As such, the University and its constituent colleges are held harmless and indemnified pursuant to Education Law Section 6205, and University employees are also covered by New York Public Officers Law Section 17.

Nevertheless, CUNY does recognize the need for the transference of risk through commercially obtained insurance on a  variety of risks associated with the activities of the University, including, but not  limited to: automobile liability for our owned vehicles and those we transport, study abroad and emergency remediation insurance while students and faculty are engaged in  CUNY related business out of the country, athletic insurance required by the NCAA, health insurance for foreign students while on our campuses, construction related insurance for the many capital improvement projects, outside vendors or enterprises using our facilities for special events.