The mission of Risk Management is to serve as a valued strategic resource; providing innovative solutions, high quality service, and cost efficient methods to effectively balance risk and opportunity for the Clark County School District allowing for the continued success of the District’s strategic plan.
What is Risk Management?
The role of CCSD’s Risk Management Department is to review risks associated with the operation of the school district, recommend ways to minimize losses, and handle any claims for damages. The goal of this department is to properly assess the risks facing the District and develop effective and fiscally sound principles to handle those risks.
Risk Management is responsible for administration of the District self-insurance funds and excess insurance policies for workers compensation, general liability, crime, and property damage to buildings and equipment. This office investigates and processes all claims, negotiates coverages and premiums and provides liaison with excess insurance carriers, and authorizes payments from district claim funds as appropriate.
What is self insurance?
Essentially, self-insurance is a planned financial program of paying sustained losses from internal funds. The CCSD is self-insured for workers’ compensation, general liability, and property losses. The department is responsible for conducting an annual actuarial review based on prior loss experience and industry trends to develop appropriate reserves to cover present and future losses.
In addition to the self-insured retentions, the Risk Management Department has chosen to insure large losses by using excess insurance policies. Currently the General Liability excess policy covers losses greater than $3,000,000 up to $10,000,000. The Workers’ Compensation excess policy covers losses over $1,250,000. Property losses are covered by an excess policy after a $500,000 deductible, in most cases.