- Preparation of insurance and retention budgets and any cost allocations to departments and divisions.
- Writing of Risk Management reports.
- Attendance of meetings with department officials.
- Gathering of statistics, loss histories, and hazard and loss exposure information.
- Supervision of staff and contracted services.
- Insurance valuations in the acquisition of property, land and machinery.
Insurance & Financial Services
- Selection of insurance representatives and companies for claim and loss control.
- Purchase of insurance policies.
- Responsibility for all meetings with insurance representatives and carriers.
- Competitive marketing and daily administration of insurance programs.
- Oversight of self-insurance accounts for retention, deductibles, and uninsured exposures.
- Monitor payments of claims, expenses and awards and review reserve estimates.
- Interfacing with liaison personnel to coordinate property loss prevention and safety activities.
- Vehicle and operator fleet safety management.
- Pre-emergency planning, prevention and preparedness.
- Development of a claim information and responsive accounting system.
- Monitor loss reporting and record keeping systems.
- Oversee internal claims investigation.
- Review of loss reserves and open claims.
- Monitor claim adjustment, follow-up, settlement and documentation by appropriate service provider.
Risk managers are the catalyst for these functions rather than have direct responsibility for all aspects and must rely on the resources of other departments and staff members. The important objective is that these elements are part of the comprehensive program, regardless of specific departmental responsibility, and that they are coordinated and efficiently managed.