RELATED TO POLICY SERIES NO: 5035
TITLE: RISK MANAGEMENT
To determine how to transfer or cover identified risks.
Risks that have been identified but cannot be eliminated and have not been transferred by contract must be deliberately not insured, self-insured, or insured commercially. The risk management concept dictates that all three be weighed carefully in regard to budget, specific financial needs, investment policy, and experience of administrators.
Risk management involves activities that deal with the systematic identification of an institution's exposure to the risk of loss and the decisions made regarding the best methods of handling exposures in relation to the financial stability of the institution.
Insurance consists of sharing the risks of possible catastrophic losses from specified hazards. The deductible amount of an insured loss, set at a limit to reduce small and frequent claims for loss, is that portion borne by the college before entitlement to any recovery from the insurance carrier. The college maintains insurance coverage for major property losses, general liability, auto liability and property damage, errors and omissions, directors and officers, boiler and machinery, cyber liability, business continuity, pollution liability, worker's compensation, athletic accident/injury, and other coverage tailored to needs as they exist. The vice president of finance and operations recommends to the Board of Education the acquisition of insurance policies on behalf of the college.
WORKERS' COMPENSATION INSURANCE
The college strives to maintain a safe working environment at all times. Every college employee will contribute to the safe environment by reporting hazards or unsafe practices to Campus Public Safety, the college's safety committee, or their supervisor.
The college maintains workers' compensation insurance in compliance with state and federal laws. Following are the sequential steps that will be followed should an employee of LBCC sustain a work-related injury.
- Injury Requiring Medical Attention
For non-emergencies, the injured worker will call the Nurse Plus service to triage the injury and determine the best course of action to be taken. When it is the judgment of a supervisor or other college staff at the scene of an injury/accident that an emergency exists, she/he will call 911 and order an ambulance. The Campus Public Safety Office or personnel designated for emergency response shall be notified at this time so first aid can be administered until the ambulance arrives. In the case of an emergency, Nurse Plus should be contacted as soon as possible by the supervisor or designee. Information provided to Nurse Plus is used in OSHA reporting for the college.
- Following A, or in cases where immediate medical attention is not required:
- The injured worker immediately contacts his/her direct supervisor to report the injury/accident. If the direct supervisor is not available to receive the report, the injured worker will report the injury/accident to the next available supervisory person in the organizational structure. Injuries/accidents, no matter how slight, must be reported to the supervisor and an accident report filed with the Safety & Loss Prevention Department.
- It is the responsibility of the injured worker and his/her supervisor to complete
the online Accident Report form in detail. If a hardcopy form is used, one copy should
be retained within the injured employee's department and the original sent to the
Safety & Loss Prevention Department.
If the injury is serious enough to require medical attention and/or time off from work, a workers' compensation 801claim form must be filed with the Human Resources Department. The injured worker is responsible for contacting Human Resources within 24 hours of the injury to complete the form.
- Human Resources will submit the form to the college's workers' compensation insurance
carrier and provide copies to:
- the injured worker;
- the injured worker's supervisor; and
- Safety & Loss Prevention.
When there is time loss due to a job-related injury, Human Resources will work with the workers' compensation carrier and the injured worker's supervisor and physician to establish a plan for the injured worker's return to work.
The injured worker is responsible for keeping the college informed regarding the extent of the injury and any necessary time loss from work. The worker will provide his/her supervisor and Human Resources an updated release indicating the physician's findings after each visit or treatment. Human Resources will work with the supervisor on any changes to the modified work progress.
- Human Resources is responsible for the collection and disposition of information concerning injured workers' compensation claims.
- Should any follow-up investigation be necessary, Human Resources will coordinate the process.
- The college Safety & Loss Prevention director will be advised of all workplace injuries and accidents. If an injury appears to be the result of a deficiency of knowledge in safe practices, safety training will be provided. Such training will be coordinated with work unit managers.
Within the requirements of the treating physician and the limitations of the law, injured employees will be returned to their regular job whenever possible. When necessary and possible, modifications will be applied to their regular job, or suitable alternative positions may be found within the college district. Temporary light-duty work may be provided to assist in the healing process, if necessary.
A careful analysis of risk, including a history of losses, is necessary before deciding among the three risk management alternatives—no insurance, total self-insurance of risk, and retention through use of deductible amounts. Accordingly, all areas of insurance are reviewed at least yearly, with more frequent analysis depending upon circumstances. Requests for Proposals for risk management and insurance broker services are solicited at least every five years to ensure the college is obtaining the most effective and cost efficient insurance coverage for identified risks.
DATE OF ADOPTION: 08/13/84
DATE(S) OF REVISION(S): 05/21/91; 06/30/92; 03/04/97; 06/03/11; 10/31/16
DATE OF LAST REVIEW: 10/31/16