Public Officials’ Liability 2/19/2019 Public Officials’ Liability

Pooling Code of Virginia: 15.2 Chapter 27 - Local Government Group Self-Insurance Pools Tangible vs intangible Pool members jointly liable (joint & several for WC) Risk Financing Goals – pay for losses, manage the cost of risk, manage cash flow variability, maintain appropriate level of liquidity and comply with legal requirements Limited joint liability – 2x annual contribution for any fund year Joint and several liability – last man standing Tangible vs intangible. Tangible = services and resources. Intangible = provide a promise. Pay contributions, sometimes for many years, in expectation that we will fulfill the promise in the event of a loss Public Officials' Liability 2/19/2019

Focused Differentiation Strategy Coverage, services and resources to reduce member’s total cost of risk. Value added consulting: Public safety Human resources Safety Communications Local government Workers’ compensation Risk management Annual premium is a fraction of total cost of risk management Public Officials' Liability 2/19/2019

VML Insurance Programs Public Officials' Liability 2/19/2019

Local Government Liability Named member includes members of the first named member’s governing board Injunctive relief Land use Public Officials' Liability 2/19/2019

Role in Risk Management Influence how the organized is governed: Strategic decision making Ultimate responsibility for ensuring legal and regulatory requirements met related to risk: Environmental, workplace safety, and other compulsory insurance requirements Identify and address key risks: Top down or bottom up approach Balance the benefits and cost of strategic decisions and oversee implementation of policy Strategic decision making – address threats and optimize opportunities Public Officials' Liability 2/19/2019

Volunteers Authorized and supervised Liability Medical payments Public Officials' Liability 2/19/2019

Question What training can VML Insurance Programs provide which will benefit your management and supervisory staff the most? Public Officials' Liability 2/19/2019

Questions? Public Officials' Liability 2/19/2019