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Risk Management
The
goal of the Risk Management Office is to efficiently and effectively
provide insurance coverage of its elected officials, employees, citizens
and properties of the City of Hartford.
This is accomplished through the development and implementation
of risk management, insurance safety and loss control techniques.
The Risk Management Office has proven effective in reducing and
controlling accidents, injuries and property loss thereby reducing
expenditures of public funds The City has made a decision to assume risk
through the assumption of deductibles and Self
Insured Retentions, thus
it is important to use all available tools to control and manage those
self insured risks. The cost of establishing a risk management program
is relatively small in comparison to the potential benefits.
Risk control prevents losses, reduces the severity of losses. The
underlying objective is to reduce the total cost of risk and
expenditures on risk control helps at reducing risk-financing costs.
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