| Examples
of Specific Risk Management Projects |
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Audit/survey
of existing Risk Management Program |
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Exposure |
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Explanation of loss control and
loss financing mechanisms |
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Analysis of insurance coverage/terms
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Development of specifications |
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Documentation/Communication
of Risk Management Program |
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Summary of coverage for managers
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Claims reporting and handling procedures
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Development of safety policy statements
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Loss experience/performance of program
summaries |
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Maintenance of Complete
Document Files |
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Policies |
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Claims information |
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Captive data |
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Administration/Monitoring
of Claims Handling/Reserving Practices |
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Independent review - accuracy of
reserves |
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Impact of ultimate cost for loss
sensitive programs |
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Managed care programs |
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Return to work programs |
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Implementation and Monitoring
of Appropriate Loss Control Program |
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Develop safety policy statements
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Assist with organization of safety
committees |
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Coordinate engineering services
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Allocation of Cost of
Risk Management Program |
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Must promote participation in loss
control program |
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Provide cost information to managers
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Balance risk bearing and risk sharing
(particularly important where retention levels are high and
program is loss sensitive) |
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Review of Acquisition
Candidates |
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Impact on overall Risk Management
program |
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Review of Experience
Modification Calculations |
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Impact on ultimate cost |
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Loss Forecasting |
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Important to determining the cost
of loss sensitive program |
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Trending and developing |
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Audit of Captive |
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Financial performance |
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Underwriting results |
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Reinsurance program |
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Loss reserving practices |
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Loss control services |
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Claims handling procedures |
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Cost allocation |
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Negotiations with Captive
Manager/Insurance Company |
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Coverage terms |
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Cost |
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Claims Handling |
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