TSBVI shall actively manage risks by developing, implementing, and maintaining a risk management program. TSBVI will coordinate facility risk management with the Texas Facilities Commission.
[See Policy CV] 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 or General Counsel with input from the Safety Committee that represents departments across the campus.
INSURANCE REPORTING REQUIREMENTS
The School shall actively manage its risks by:
- developing, implementing, and maintaining programs designed to assist employees who sustain compensable injuries to return to work; and
- 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 (SORM), 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. SORM may require TSBVI to submit copies of insurance forms, policies, and other relevant information.
Texas Labor Code, Title 5, Subtitle A, Section 412.051
The Primary Risk Manager as designated with SORM shall report to the State Office of Risk Management for each fiscal year:
- the location, timing, frequency, severity, and aggregate amounts of losses by category of risk, including open and closed claims and final judgments;
- loss information obtained by the School in the course of its administration of the Workers’ Compensation Program;
- 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;
- estimates by category of risk of losses incurred but not reported;
- information the State Office of Risk Management determines necessary to prepare a Texas Workers’ Compensation Unit Statistical Report; and
- additional information that the State 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
SCHOOL CONTINUITY OF OPERATIONS PLAN
TSBVI’s Continuity of Operations Plan is located in the School’s Confidential Emergency Operations Plan and is reviewed quarterly, as well as modified when necessary to keep the agency operational in case of disruptions to finance, administration, and other essential operations after a catastrophe.
Tx. Labor Code 412.054
Amended: 3/26/04, 1/29/21