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

2. 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

3. 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

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

5. 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

6. 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

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

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

9. Questions?
Public Officials' Liability
2/19/2019