HomeMy WebLinkAboutRisk ManagementRisk Management
Presenter:
Erik Kropp,
Risk Manager/Deputy County
Administrator
▪FY24-25 Proposed Budget Presentation
Budget Committee Meeting | May 2024
Risk Management – Strategic Vision
Reduce risk / avoid claims
Protect the County through insurance and
properly managing self-insurance
Responsibility settle claims where the County
holds liability
Manage claims and insurance to allow other
County departments to focus on service and
operations
2
Insurance Programs
-Fully self-insured -Fully self-insured
-Purchase insurance
for out-of-state
vehicles
-Insure $231 million
of buildings and
equipment
Unemployment Vehicle Property
Insurance Programs (cont.)
-Self-insured up to
$1 million
-Excess GL policy
for $1 million - $10
million
-Self-insured
-Purchase excess
policy: $1 million for
sworn; $500k other
-Costs more for less
every year
General Liability Workers Comp Cyber
Current Challenges
•Insurance premiums are
increasing
•Workers comp PTSD claims
•Vehicle repair costs
increasing significantly
•Cost of workers comp
medical claims increasing
Challenges
Thank you