Definition:
Loss prevention is the act of taking proactive measures to prevent or abate an identified risk. This can take the form of improved safety and training programs; implementing new, less hazardous processes; programs/projects to reduce injuries and property loss; and/ or general safety enhancements.
Program Intent:
Each year the University of Alaska, System Office of Risk Services, budgets a small amount of its total budget allocation to fund proactive Loss Prevention (LP) projects at the MAU level. This funding is intended for projects specific to the purpose of reducing the frequency and/or severity of potential loss in the areas of workers’ compensation, auto, property, liability, human resources and other sources of claims financed through the System Office of Risk Services.
For examples of previously funded LP projects, please review our Success Stories at http://www.alaska.edu/risksafety/html/lpsuccess.xml
Steps to Apply for Loss Prevention Funding:
Please note that the cut off date for applications is June 1st
for projects that are requesting funding for a current fiscal year.
Departments must complete an application form for LP project proposals. Campus risk management will provide the initial review, approval, and prioritization for all projects at their campus. We recommend you review this form prior to developing your proposal so that you will be prepared to provide the relevant information needed by risk management to evaluate and process your request. The form is available at: http://www.alaska.edu/swrisk/download/lpform.pdf
- Define the problem and develop a plan to mitigate the risk. LP Plans should be well developed and clearly demonstrate direct or indirect savings that will be realized as a result of implementing the LP Plan. LP Plans that do not meet this requirement may be denied or returned to the applicant for additional information or relevant justification.
The System Office of Risk Services tracks loss history for all of the University of Alaska campuses and produces a quarterly “Cause of Loss” report. Because funding is limited, those proposals that are solidly based on statistical loss history (as found in the Cause of Loss report) or a defensible risk assessment (contact your campus Risk Management office) will receive priority when being considered for funding. The System Office of Risk Services can produce specific loss reports upon request. For example, if you want to determine how many motor vehicle accidents have occurred when employees have been backing up a vehicle, the System Office of Risk Services can produce a report with that data.
- Contact your campus Risk Management office for assistance in developing a LP Plan, receive a copy of the Cause of Loss Report or to schedule a Risk Assessment evaluation (if needed). Your campus Risk Management representative can also assist you in determining if your LP Plan is appropriate for LP funding.
- Review your plan with your Supervisor or appropriate department representative to assure management can support your plan and provide any additional funding that may be necessary (if plan exceeds LP funding limit).
- Fill out a Loss Prevention funding application and attach an itemized estimate for the LP Project proposal including equipment, materials, services and other costs, and copies of quotes or bids. Submit these with your LP Plan to your campus Risk Management office for initial review and approval. If the LP Plan is approved at the campus level, it will be forwarded to the System Office of Risk Services for review and final approval.
- You will receive a written approval (or denial) for your LP project proposal from the System Office of Risk Services, though your Campus risk management office.
Loss Prevention Funds will not be approved for:
- Loss Prevention funds are not intended to supplement program budgets. This includes replacement of general operating supplies, safety and personal protective equipment which is required by law or regulation, deferred maintenance or travel expenses (with limited exception for train-the-trainer safety education).
- It is the responsibility of departments to plan for and achieve minimum health, safety and security requirements necessary for their operation. This includes safety supplies and equipment necessary for start up of new programs as well as budgeting for replacement. Most of the UA’s operations are highly regulated and have associated best management practices that must be adhered to. Your campus Environmental, Health and Safety/ Risk Management representatives are happy to assist you in determining these minimum requirements.
- Major capital improvements (over $5,000) will not be funded.
- Activities which require reimbursement to university employees (except for labor costs associated with established university service providers, e.g., physical plant, telephone service, printing).
How to Receive Payment:
The System Office of Risk Services will reimburse your ORG and Fund into account 8453, via journal voucher, for approved LP project expenses once the charges have been finalized. Once finalized, please submit the following documentation:
- A print out of Banner screen “FGITRND” identifying the project and the amount expended.
- Copy of Original Receipt.
Contact Information: Risk Management Staff
Ongoing Loss Prevention Programs:
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