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Commercial Insurance: Although state government usually avoids purchasing insurance, there are occasions when insurance is suitable for insuring state property and liability risks. Sometimes, particularly with bond-funded projects, insurance is a requirement.
The Office of Risk and Insurance Management offers these insurance services:
- Analyzes risks and the needs of state agencies to determine if insurance is suitable.
- Purchases insurance which provides the needed protection for the lowest available costs.
- Administers insurance programs for the office's clients.
Insurance Program Administration: In addition to managing routine insurance programs, the Office of Risk and Insurance Management also administers some which either are unusually large or have unique and complex administrative requirements. For example, the office administers the Cal-Vet Home Loan Insurance Programs, a series of insurance programs for the Business Enterprise Program of the Department of Rehabilitation and several employee benefit plans.
Consulting Services: The Office of Risk and Insurance Management has a professional staff able, as consultants, to perform lengthy and complex analyses or provide brief comments and advice on insurance and risk management issues.
Contract Services: In addition to reviewing and recommending approval (or disapproval) of insurance carried by contractors doing hazardous work for the State, the staff provides advice about contracts and their insurance provisions. Questions of whether insurance should be required and for what amount and type should be referred to Office of Risk and Insurance Management. Click here for Suggested Contract Language.
Training Services: The Office of Risk and Insurance Management conducts training for other agencies' staff in insurance-related issues, including, but not limited to, suggested contract language for hazardous contracts or leases. Such training can be conducted in either our offices or on-site for the requesting agency.
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