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ABOUT RISK MANAGEMENT DIVISION
General Information - Summary of Responsibilities and Activities
Operating under 74 O.S., § 85.58, Risk Management is responsible for administering on behalf of all State entities and some non-state entities, as allowed by statute: property and casualty self-insurance and insurance programs, loss prevention (safety) and loss control programs designed to eliminate losses and reduce costs, and cost allocation systems designed to effectively support its objective of reducing costs by establishing accountability and responsibility throughout all State entities. Risk Management’s client base includes: all State agencies including higher education, rural fire districts, motor license agents, foster care parents, and conservation districts.
In cooperation with an insurance broker and consultant as well as the Central Purchasing Division, Risk Management purchases necessary insurance coverage through a competitive process providing the State and other entities the most comprehensive insurance coverage available to it and at competitive prices. Among insured programs are: Commercial Property, Out-of-State Liability, Director’s and Officer’s Errors and Omissions Liability, Employment Practices Liability, Foreign Liability, Aviation, and other miscellaneous lines of coverage as well as various property and vehicle programs for statutorily allowed non-state entities. Risk Management administers several self-insurance programs including Tort Liability and Business Vehicle Liability.
To achieve its goals, Risk Management works with insurance consultants, insurance underwriters, insurance company engineers, DCS’s Construction and Properties Division, the Fire Marshal’s office, the Attorney General’s office, all State agencies, outside corporations and businesses, and other states to develop, implement, and maintain comprehensive and effective Risk Management programs throughout all entities participating in its programs. Communications being paramount to this effort, the Risk Management Division provides educational seminars in the risk management process. Among the seminars offered are: Risk Management Overview, Risk Identification and Assessment, Risk Control, Incident and Accident Investigation, Claims Management, and Risk Financing. Through its partnerships, Risk Management regularly reviews and improves programs by using internal and external benchmarking with the intent to create, adopt, and implement programs meeting and exceeding national best practices.