While Randolph College is a liberal arts school located in the small town of Lynchburg, Virginia, it has a big time mission to educate ethical global citizens. Randolph equates academic excellence with that of learning by exploration outside of the classroom – from late night dorm room discussions, to wandering the streets of Paris as part of its study abroad program. Education by experience is an exciting academic adventure for staff and students alike, but it also exposes them to potential risk.
To fully protect its students on-campus and abroad, as well as provide a wide range of insurance services to protect the college, Randolph turned to RCM&D in 2007. RCM&D provides the college with a plethora of services, including property and casualty insurance brokerage, and risk management services and consultation. In the first year alone, RCM&D saved the college 15% on insurance costs and improved coverage.
“RCM&D was able to deliver savings by securing better rates than other brokers, they were able to identify and eliminate gaps within our existing coverage, and they were able to use their buying power to provide greater coverage value for lower premiums” said Chris Burnley, vice president of finance and administration at Randolph College.
In addition to cost savings, RCM&D was instrumental in launching the college’s safety committee. RCM&D provided the college with risk management workshops and webinars to help Randolph deal with risk more effectively. RCM&D has also been available to provide the college with suggestions large and small. For example, when the college was investigating installing an electric fence at the Equestrian Center, it turned to RCM&D for help. The company evaluated the voltage to make sure it was at the proper level, and made sure that Randolph had appropriate signage to protect them if ever there was an incident.
“Anytime we have a question, RCM&D is always available and willing to help out, and they follow up on those questions with good reports and analysis,” said Burnley. “RCM&D is there when you need them. I can’t speak highly enough of them. I can send an email and know I’m going to get an answer or a response. There’s never been a case where it’s been more than a day turnaround.”