| The mission of the Chief Executive Office's Risk Management Operations is to establish and administer County risk management policies and guidelines, so that Countywide risk management practices protect the investments and assets of the County from catastrophic or accidental loss.
RISK MANAGEMENT OPERATIONS STRUCTURE (RMO): PROGRAM OVERVIEW
I. COMMERCIAL INSURANCE ADMINISTRATION
- Serve as County’s internal insurance adviser and broker. Administer commercial insurance programs.
- Programs include, but are not necessarily limited to, the following:
- Animal Care & Control – City of Thousand Oaks*
- Consolidated Property/Boiler Machinery*
- Fiduciary Liability
- Fine Arts
- Public Official Bond
- Sheriff Reserve Disability
- Volunteer Workers
- Contractors Liability Insurance Program (SPARTA)
- Special Events Liability Insurance Program (SELIP)
- Assess risk to determine appropriate balance of commercial insurance or self-retention, adequate levels of policy limits or self-retention, appropriate funding sources(s) and insurance cost estimates.
- Solicit primary and excess commercial insurance coverages including development and issuance of Requests for Proposals (RFPs), administration of RFP rating and selection process, development of department concurrence and Board and County approvals.
- Coordinate the loss adjustment process:
- Notify brokers and underwriters of loss;
- Coordinate repair activities and emergency operations of County departments with claims and insurance representative;
- Coordinate with ISD, involved County departments and Auditor-Controller to ensure all insured costs are billed and invoices and supporting documents contain the information required by underwriters;
- Submit costs to adjuster and negotiate settlement with approval of County department; and
- Obtain payment from underwriters and credit to appropriate County department account
II. FINANCIAL ADMINISTRATION
- Prepare, administer and monitor Insurance Budget and financial performance.
- Administer financial audits, and financial and actuarial studies.
III. RISK MANAGEMENT INFORMATION
- Develop and provide County management, operations and fiscal staff with statistical and financial reports to support County budgeting, accounting, cost allocation, cost projection and loss prevention.
- Administers the County’s Risk Management Information System.
IV. RISK ASSESSMENT AND ANALYSIS
- Advise County departments on alternative risk transfer and risk financing techniques, including use of commercial insurance, self-insurance, hold harmless and other contractual risk transfer agreements.
- Develop indemnification and insurance requirements for County service agreements and leases, and review County contracts to ensure appropriate risk management requirements are included.
- Execute County statements of indemnification for issuance to third parties.
- Advise departments on insurance issues related to insurance company ratings and performance.
- Act as liaison between the County and the State Department of Insurance.
- Analyze and recommend County’s position on legislative issues relating to risk management and commercial insurance.