Risk Management and the CCA Insurance Manual. New York State Council of Contracting Agencies (CCA) Procedure Manual November, 2011. Objectives of this Presentation. Introduce basic risk management principles. Describe contractual protection. Introduce the CCA Procedure Manual.
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New York State Council of Contracting Agencies (CCA)
Public projects are risky business!
The process for making and carrying out decisions that will minimize the adverse effects of accidental loss.
The organized treatment of loss exposures by…
Just Don’t Do It!
Those who fail to plan…
…plan to fail.
Lower the severity of losses that may be unavoidable.
Band aid after the fact.
Belts and suspenders
To the rescue!
Allocate the risk of loss to those
who are best able to prevent it
“To the fullest extent permitted by law, the Contractor shall indemnify and save harmless the State… from … claims… arisingfrom the contractor’s work under this contract…”
Transfer of the financial consequences of a loss exposure to the insurer in exchange for the payment of a premium.
Provide a standard for consistent insurance-related language and requirements for use in Agency contract documents. While the standards referenced in the manual have been developed via a collaborative effort involving all of the participating agencies and insurance industry representatives, and the Council believes these standards to best meet the needs of the Agencies operating in the current contract and insurance industry environments, the Council also recognizes that each agency faces its own unique operations and contracting needs. Therefore, it is understood that each Agency may find a need to deviate from the standards presented here as it deems necessary.
Persons who provide..
Consult your Legal Dept and/or risk manager….this manual is NOT the final word on insurance requirements and limits.