PROACTIVE RISK MANAGEMENT COVERAGE LIABILITY AND PROPERTY MANAGEMENT. Focus

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Jody Dalton
6 years ago
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COVERAGE LIABILITY AND PROPERTY 1 Focus Assure Ohio Townships have the correct Property/Casualty coverage to meet the needs of the individual

1 COVERAGE LIABILITY AND PROPERTY 1 Focus Assure Ohio Townships have the correct Property/Casualty coverage to meet the needs of the individual township Review the necessary information required when filling out new and renewal applications to assure effective property/casualty coverage 2 1

2 Focus Review the most effective way to cover emergency vehicles, buildings, personal property and miscellaneous equipment Discuss liability limits for all liability coverage 3 LIABILITY COVERAGE INFORMATION General Liability Public Officials Liability Employment Liability Automobile Liability 4 2

3 PROPERTY COVERAGE INFORMATION Automobile Physical Damage Miscellaneous Property ORC Annual Inventory Buildings and Personal Property 5 RISK TECHNIQUES LIABILITY AND PROPERTY EXPOSURES 6 3

4 What is Risk Management? The set of processes management uses to identify, analyze and appropriately respond to risks that might adversely affect the township. The response to risks typically depends on their perceived probability and severity and involves controlling, avoiding, accepting or transferring them to a third party. 7 By definition risk management techniques are proactive. Being proactive means the township is doing its part to anticipate the potential areas of loss based on exposures (Administrative, Roads, Cemeteries, Fire, Police, Parks) and takes the steps to do what is necessary in each of those area to prevent or minimize loss. This always works. 8 4

5 Risk management objectives may include: Federal, state and local laws Industry best practices Legal precedents set 9 GOALS OF RISK Prevent losses Reduce the frequency of loss Reduce the severity of loss Reduce the variability of potential losses Reduce the costs to losses townships 10 5

6 METHODS OF RISK Avoidance = never undertaking the activity Loss Prevention = technique reduces frequency for exposures we can t avoid (written driver acceptability standards) Loss Reduction = for losses that do occur, these techniques reduces severity (training, claims management techniques) 11 METHODS OF RISK Transference =Letsomeoneelsetakeontherisk (contractual, insurance, subcontractor) Separation = isolates from one another to minimize loss (flammable liquids cabinet) Duplication = backup copies, spares (plat maps) 12 6

7 Risk management means more than preparing for the worst; it also means taking advantage of opportunities to improve services or lower costs. Without good risk management practices, townships cannot manage their resources effectively. 13 The only alternative to risk management is: CRISIS = REACTIVE More expensive, more time consuming and can create adversely affect elections, public relations, the outcome of much needed levies and more (Road and Sign Inspections) 14 7

CONTAINMENT DUTIES IN THE EVENT OF A CLAIM OR SUIT:

8 CLAIM HANDLING COST CONTAINMENT AUTOMOBILE & GENERAL LIABILITY CLAIMS 15 CLAIM HANDLING COST CONTAINMENT DUTIES IN THE EVENT OF A CLAIM OR SUIT: Prompt Reporting Cooperation Do Not Assume Any Liability 16 8

9 CLAIM HANDLING COST CONTAINMENT AUTOMOBILE LIABILITY: Contact Police Complete written statements Take photographs when possible 17 CLAIM HANDLING COST CONTAINMENT AUTOMOBILE LIABILITY MITIGATION: ORC 2744 Call to Duty/Emergency Run Comparative Fault Property Damage Multiple Estimates/Appraisal Bodily Injury Adjuster Rapport 18 9

10 CLAIM HANDLING COST CONTAINMENT GENERAL LIABILITY: Obtain written statements Take photographs when possible 19 CLAIM HANDLING COST CONTAINMENT GENERAL LIABILITY MITIGATION: ORC 2744 Governmental v. Proprietary Functions Comparative fault Property Damage Multiple Estimates/Appraisal Bodily Injury Adjuster Rapport 20 10

WHAT RISKS/SOURCES OF LOSS EXIST IN TOWNSHIPS?

LIABILITIES & DEFENSES FOR NEW TRUSTEES RISK MANAGEMENT, RISK TRANSFER & GOOD CLAIMS HANDLING PRESENTED BY OTARMA WHAT RISKS/SOURCES OF LOSS EXIST IN TOWNSHIPS? Auto Liability Lack of Motor Vehicle Record