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21-804 Office of Risk Management

The mission of the Office of Risk Management (ORM), in the Division of Administration, is to develop, direct, and administer a cost-effective and comprehensive risk management program for all state agencies, boards, and commissions of the State of Louisiana and any other entity for which the state has an equity interest, in order to preserve and protect the assets of the State of Louisiana.

The goals of the Office of Risk Management are:

1. Improve accountability.

2. Improve efficiency of standard procedures.

3. Minimize losses and achieve financial stability.

4. Identify exposure and losses, actual and potential methods of outcome-based management which focus on the results of reducing the exposure and managing.

5. Maintain sounds principles of insurance and management by providing training to entry level adjusters and examiners to instruct then in basic principles and techniques of claims adjusting.

The Office of Risk Management has four programs: Administrative, Other Claims Related, Contract Litigation, and Risk Litigation.

BUDGET SUMMARY

This agency does not have any short-term debt for Fiscal Year 1998-1999.

This agency does not have any long-term debt for Fiscal Year 1998-1999.

This agency's recommended appropriation also includes the following amount by means of financing for payments on the unfunded accrued liability of the Louisiana State Employees' Retirement System in accordance with the provisions of Article X, Section 29 of the Constitution of Louisiana:

State General Fund by:

 

 

     Fees & Self-gen. Revenues

 

$272,022

 

 

 

Total

 

$272,022


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