The role of the Insurance section of UBC Safety & Risk Services is to minimize the economic impact on the university resulting from loss or damage to its physical assets and from third party liability allegations.

With nearly 500 buildings situated in Vancouver Point Grey Campus and in Kelowna Campus in the Okanagan Valley, and over 60,000 students, faculty, and staff present on most days, the potential for loss is high. Teaching, research, and day-to-day support activities create risks that must be managed.

To prevent or mitigate losses, the university attempts either to control the risk, or mitigate the losses that do occur through risk transfer techniques, such as insurance.