CKF (TSBVI) - RISK MANAGEMENT

PROGRAM REQUIRED

TSBVI shall actively manage risks by developing, implementing, and maintaining a risk management program.

Texas Labor Code, Title 5, Subtitle A, Chapter 412

DEFINITION OF RISK MANAGEMENT

Risk management is the process of planning, organizing, directing and controlling TSBVI's resources to minimize the possibility of loss, or injury, from various causes of loss.

GOAL OF RISK MANAGEMENT

During the course of conducting business at TSBVI, the long-term risk management goal is to minimize harm to physical, human, fiscal and environmental resources of the School, and to minimize the total cost of risk to TSBVI. In order to accomplish this long term goal, the School shall attempt to identify all significant known perils and risks to which the agency may be exposed; avoid unnecessary, or unreasonable, exposures to the extent practicable; take all reasonable and practical steps to prevent harmful events and losses; and initiate reasonable and appropriate loss control techniques to control the frequency and severity of those losses that are unavoidable.

RISK MANAGEMENT DUTIES

The Human Resources Department shall handle Workers' Compensation claims. The Business Office shall handle property losses. Other risk exposures will be handled through the School's Internal Auditor and through the Safety Committee that represents departments across the campus.

INSURANCE REPORTING REQUIREMENTS

The School shall actively manage its risks by:

1. developing, implementing, and maintaining programs designed to assist employees who sustain compensable injuries to return to work; and

2. cooperating with the State Office of Risk Management and the Texas Department of Insurance in the purchase of property, casualty, and liability lines of insurance coverage.

If the School intends to purchase property, casualty, or liability insurance coverage in a manner other than through the services provided by the State Office of Risk Management, it shall report the intended purchase to the Office in the manner prescribed by the Office. The School shall report the intended purchase not later than the 30th day before the date on which the purchase of the coverage is scheduled to occur.

Texas Labor Code, Title 5, Subtitle A, Section 412.051

ANNUAL REPORT

The School shall report to the Office of Risk Management for each fiscal year:

1. the location, timing, frequency, severity, and aggregate amounts of losses by category of risk, including open and closed claims and final judgments;
2. loss information obtained by the School in the course of its administration of the workers' compensation program;
3. detailed information on existing and potential exposure to loss, including property location and values, descriptions of agency operations, and estimates of maximum probable and maximum possible losses by category of risk;
4. estimates by category of risk of losses incurred but not reported;
5. information the Office of Risk Management determines necessary to prepare a Texas Workers' Compensation Unit Statistical Report; and
6. additional information that the Office of Risk Management determines to be necessary.

The information shall be reported not later than the 60th day before the last day of each fiscal year.

Texas Labor Code, Title 5, Subtitle A, Section 412.053

Adopted: 3/22/96

Amended: 3/26/04

Reviewed:

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