Risk Management Responsibilities

The Risk Manager is responsible to Senior Management for the following functions:

1. To identify and quantify the organizationís exposures to accidental loss.

2. To adopt proper financial protection measures through risk transfer (to outside parties), risk avoidance, and risk retention programs.

3. To develop and update a complete system for recording, monitoring, and communicating the organizationís Risk Management program components and costs to the executive staff and others as necessary.

4. To design master insurance programs and self-insurance programs including the preparation of underwriting specifications.

5. Securing and maintaining adequate insurance coverage at the most reasonable cost.

6. To determine the most cost-effective way to construct, refurbish, or improve the loss protection system of any facility leased, rented, purchased, or constructed by COMPANY.

7. To develop and implement loss prevention/loss retention programs.

8. To actively participate on all contract negotiations involving insurance, indemnity, or other pure risk assumptions or provisions prior to the execution of the contracts. To establish indemnity and insurance standards for standard contract forms.

9. To create and publish guidelines on the handling of all property and liability claims involving the organization.

10. To manage claims for insured and uninsured losses.

11. To comply with local insurance laws.

12. To select and manage insurance brokerage representatives, insurance carriers and other necessary risk management services providers.

13. To establish deductible levels.

14. To allocate insurance premiums.

15. To issue bonds and certificates as necessary.

16. To establish Risk Management policies and procedures