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Office of Risk Management Annual Conference
PROPERTY 2010 Annual
Conference
Office of Risk Management Annual ConferenceOffice of Risk Management Annual Conference
AGENDA
Remembering 2009
Types of Claims Handled by the Property Unit
What to do after a loss
How to report a First Party Property Loss
Disaster Recommendations
Q and A Session
Closing Comments
Office of Risk Management Annual Conference
Hurricanes – KATRINA, RITA, GUSTAV and IKE
Flood Recovery Project
Excess Carrier Reconciliation Project
Re inspection Projects
Insurance Reduction Project
FEMA Documentation Project
Coordinate Meetings with FEMA, GOHSEP, FP&C and State
Agencies
REMEMBERING 2009
Office of Risk Management Annual Conference
TYPES OF CLAIMS HANDLED BY THE PROPERTY UNIT
First Party Property – Building and Contents
Equipment Breakdown – Boiler and Machinery
Employee Bond – Mishandling of funds
Crime – Burglary
Bridges
Marine and Fixed Marine Facilities – Boats – Piers & Ferry
Landings
Office of Risk Management Annual Conference
FIRST PARTY PROPERTY – BUILDING AND CONTENTS
Building Coverage for locations listed in the Schedule
Contents Coverage for locations listed in the Schedule
Contents Coverage for Leased locations listed in the
Schedule
All Properties which the State Owns
All Properties for which the State has assumed liability by
contract
$1000 Deductible
Office of Risk Management Annual Conference
EQUIPMENT BREAKDOWN - BOILER AND MACHINERY
Mechanical objects – engines, gears, blowers, fans, pumps
Electric Steam Generators
Refrigerating or air conditioning vessels
Transformers, Turbines
Fired Vessels
Business Interruptions & Extra Expense – business income
$1000 Deductible
Office of Risk Management Annual Conference
EMPLOYEE BOND
Coverage for mishandling of funds
Up to $500,000 Coverage
Deductible of $1000
Embezzlement
Based of date of discovery
Must be reported within 90 days of discovery date
Suspect employee must be identified
Office of Risk Management Annual Conference
CRIME
Coverage for theft, burglary and forgery by a non state
employee
Up to $2,000,000 of coverage
Deductible of $1000
Disappearance and destruction of money and securities
Robbery and safe burglary of property other than money
Office of Risk Management Annual Conference
BRIDGES
State owned bridges as listed
$1,000 Deductible
Office of Risk Management Annual Conference
Boats less than or equal to 26 feet ONLY
Piers and Ferry Landings
ADDITIONAL COVERAGES UNDER PROPERTY POLICY
Office of Risk Management Annual Conference
WHAT TO DO AFTER A LOSS
Report all losses in excess of $1000 to ORM immediately
Prevent additional damages
Preserve any evidence
Photograph damages
Notify Police Fire Department or other Authorities
Office of Risk Management Annual Conference
HOW TO REPORT A FIRST PARTY PROPERTY LOSS
Obtain property first party loss form from ORM website
http://doa.louisiana.gov/ORM/forms.htm
See form on next slide
After completion of form, email or fax to:
Fax # 225-342-4470
Office of Risk Management Annual Conference
Office of Risk Management Annual Conference
PRE DISASTER RECOMMENDATIONS
Establish a Disaster Plan
Appoint an Emergency Response Group
Establish an off site location in case your building is
inaccessible
Establish a phone tree for communication
Store paper files in water proof cabinets above ground level
Maintain digital record of inventory including photographs
All agency vehicles should be located on higher ground prior to
event
Office of Risk Management Annual Conference
Q AND A SESSION
Office of Risk Management Annual Conference
CLOSING COMMENTS
Expectations for 2010
Possible Improvements for 2010
Open forum for agency recommendations
