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9.MEP.6 |
Insurance Practices-Risk Management
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Type: Procedure
Category: Risk Management and Safety
Level: Community Care
Parties: Community Care employees and contractees
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Supporting References: COA Standard RPM 4: Insurance Protections
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Parent |
Effective Date |
Approval Level |
Revision Dates |
Last Reviewed |
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N/A |
1-1-2004
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Management Team
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4-1-2009 |
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Related Document Code |
Related Document Name |
Type |
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9.ME.3 |
Risk Management |
Policy |
Procedure: Oversight of insurance maintenance is assigned to the Community Care Financial Director. The Finance Director with the Executive Director will ensure that Community Care's insurance coverage is sufficient. Insurance types will include (others may be added): general liability, workers' compensation, disability, fire and theft, medical, indemnification, professional liability, risk pooling trust, officers and directors liability, automobile liability, malpractice , and flood insurance (where necessary). Insurance coverage will be purchased at a level that covers Community Care against potential loss and/or liability in the aforementioned areas and/or any other areas where there is a potential for loss or liability. Liability for persons who write checks and/or handle money is covered through insurance. Potential for loss is reduced through policy and/or procedures regarding limitations for authorization of release of funds and/or the requirement of dual signatures. Annually, insurance policies will be reviewed and evaluated to ensure that coverage is sufficient. Insurance coverage will be reviewed and evaluated to ensure that coverage is sufficient. Insurance coverage will be adjusted as needed, based on this review. The details of insurance coverage will be made available to all employees and contractees through the Human Resource (HR) Office, upon reasonable notice. Annually, a summary of this same insurance coverage will be provided to Community Care's HR department and designated Risk Manager, where applicable, for quick reference. All employees and contractees will be provided notice of insurance coverage practices at the time of their initial hire or contract with Community Care. This notification will involve providing the person with written notice of the location of insurance information and the means of access so they may understand the extent and limitations of coverage as it affects them. To the extent that any changes are made in the policy, such changes from the prior period will be appropriately noted and summarized, and all affected persons will be notified. Included in this notification will be an explanation detailing the means of accessing this insurance information. Additionally, all employees/contractees who use their personal vehicle for agency purposes are required to maintain a minimum of $100,000/$300,000 liability coverage.