Fiat Lux Risk and Insurance Company

The purpose of Fiat Lux is to finance the University of California's self insured retentions, to purchase reinsurance directly, and to issue to the University of California's certain bespoke insurance policies. IN FURTHERANCE OF THIS PURPOSE, THE ORGANIZATION PROVIDES: (A) IMPROVED RISK MANAGEMENT PRICING PREDICTABILITY AND COST STABILITY; (B) ENHANCED RISK MANAGEMENT, AND PROTECTION AND COVERAGE OF LESS TRADITIONAL RISKS AND ESOTERIC RISKS; (C) A FOUNDATION FOR DEVELOPMENT AND IMPLEMENTATION WITHIN THE REGENTS OF MORE FORMALIZED RISK FINANCING POLICIES AND PROCEDURES; AND (D) INSURANCE COVERAGE FOR EXTERNAL THIRD PARTIES, INCLUDING BUT NOT LIMITED TO, AGENTS, AFFILIATES, ASSOCIATIONS, JOINT VENTURES, AND PARTNERSHIPS OF OR IN WHICH THE REGENTS OF THE UNIVERSITY OF CALIFORNIA PARTICIPATES OR OWNS AN INTEREST PROVIDED THAT SUCH THIRD PARTY COVERAGE IS NO MORE THAN AN INSUBSTANTIAL PORTION OF THE ORGANIZATION'S OVERALL ACTIVITIES. To date and in total the organization provides over 40 different coverages and risk financing arrangements to the University of California.