Co-Sourced Risk Management

Approaching Risk Management

The Boston Consortium Risk Management Group (TBC-RMG) is a shared administrative program providing enterprise risk management and insurance resources to its members. The mission of TBC-RMG is to continually improve the risk management profile at each Member school by:

• Maximizing the buying power of the TBC-RMG with regard to insurance, loss control, and loss prevention programs;
• Disseminating risk management knowledge and best practices to TBC-RMG members;
• Reviewing existing risk management strategies for cost effectiveness and loss reduction;
• Developing an Enterprise Risk Management template;
• Evaluating/Establishing Alternative Risk Transfer mechanisms.

TBC-RMG’s strength comes from the collective purchase of insurance, providing its members with the best terms and conditions at pricing that would not be attainable by individual institutions in the collective. In addition, the Group’s power is in the commitment of TBC-RMG members to share and work toward best practices in risk management and to help keep losses low, further enhancing our profile to insurance carriers.