Question

What are the duties of risk managers? How do they fit into the organization of HSOs?...

What are the duties of risk managers? How do they fit into the organization of HSOs? HSs?

Homework Answers

Answer #1

The Duties of the Risk Manager :-

  • Provide a methodology to identify and analyze the financial impact of loss to the organization, employees, the public, and the environment.
  • Examine the use of realistic and cost-effective opportunities to balance retention programs with commercial insurance.
  • Prepare risk management and insurance budgets and allocate claim costs and premiums to departments and divisions.
  • Provide for the establishment and maintenance of records including insurance policies, claim and loss experience.
  • Assist in the review of major contracts, proposed facilities, and/or new program activities for loss and insurance implications.
  • In cooperation with General Counsel, maintain control over the claims process to assure that claims are being settled fairly, consistently, and in the best interest of the entity.
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