West Virginia Code of State Rules Agency 115 - Risk And Insurance Management
West Virginia Code of State Rules — Agency 115: Risk and Insurance Management
Overview
The Agency 115 — Risk and Insurance Management is responsible for overseeing and administering the state’s risk management and insurance programs. Its mission is to identify, evaluate, and manage risks that could impact state agencies, employees, and public assets.
Purpose and Function
Risk Identification and Assessment
The agency assesses potential risks faced by state government operations, including property, liability, and personnel risks.
Insurance Program Administration
It manages insurance coverage for state property, vehicles, and other assets, ensuring adequate protection and cost-effective coverage.
Claims Management
The agency processes and resolves claims related to state property damage, liability, and workers’ compensation.
Loss Prevention and Safety
It develops and promotes loss prevention programs and safety initiatives to reduce the frequency and severity of claims.
Structure and Governance
The agency operates under an appointed director or manager responsible for day-to-day administration.
It collaborates with state departments and agencies to coordinate risk management strategies.
Staff includes claims adjusters, safety specialists, and insurance analysts.
Key Rules and Procedures
Risk Management Plans
State agencies are required to develop and submit risk management plans outlining strategies to identify, mitigate, and monitor risks.
Insurance Coverage
The agency procures and maintains insurance policies covering state assets, including buildings, vehicles, and equipment.
Claims Reporting and Handling
Procedures specify how agencies and employees should report incidents or losses.
The agency investigates claims, negotiates settlements, and coordinates repairs or replacements.
Loss Prevention Programs
The agency designs safety training, workplace inspections, and hazard mitigation programs.
It provides guidance to agencies on best practices for reducing risk exposure.
Compliance and Auditing
Regular audits and reviews ensure agencies comply with risk management policies.
Non-compliance may result in recommendations for corrective action.
Enforcement and Compliance
The agency has authority to require agencies to implement risk reduction measures.
It may withhold or adjust funding or insurance coverage based on an agency’s adherence to risk management protocols.
Summary
Agency 115 — Risk and Insurance Management — functions as the central body for managing risks and insurance matters within West Virginia state government. Through risk assessments, insurance administration, claims management, and loss prevention initiatives, the agency seeks to protect state resources and promote a safer working environment across government operations.
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