Risk Management

FY 2024 ANNUAL BUDGET

The Risk Management Fund provides stable insurance rates to City Departments and the General Fund. Revenues are derived from internal service charges for insurance coverage including liability issues, property damage, worker’s compensation and the health insurance deductible. Coverage for catastrophic losses is purchased through “pooled” insurance companies formed with other Wisconsin municipalities and traditional coverage. Smaller, predictable losses are self-insured. Risk Management handles all claims and safety and related matters for the City of Eau Claire and L.E. Phillips Memorial Library. Certain coverage is also provided for the City-County Health Department and Housing Authority.


Program Mission

Proactively administer and manage a fiscally responsible risk management program that protects the City’s human and financial assets from adverse impact.


Objectives:

  • Integrate Risk Management into the strategic and decision-making processes across the organization in order to contribute to the achievement of the organization’s objectives and outcomes.
  • Create a safe environment.
  • Provide a system of risk and loss exposure identification and analysis to reduce exposures and create a safe environment.
  • Manage all claims.
  • Review all lines of insurance coverage for alternatives and cost reduction.
  • Maintain stable internal service charges to other City departments and funds.

Outputs:

  • Develop and implement appropriate risk management policies and procedures that contribute to the achievement of the organization’s objectives and outcomes.
  • Provide education and training on best safety practices.
  • Ensure regulatory compliance with all safety training.
  • Maintain stable internal service charges to other City departments and funds.
  • Number of insurance policy renewals: 6
  • Number of new insurance policies purchased: 1
  • Number of Incidents filed: 339
  • General Liability: 6
  • Auto Liability: 2
  • Property: 1
  • Worker’s Compensation - Lost Time: 11
  • Worker’s Compensation - Medical Only: 23
  • Worker’s Compensation incidents with no treatment: 68
  • Total Open Claims: 24

Risk Management Revenues & Other Financing Sources

Risk Management Expenditures & Other Financing Uses