County official studies risk management pools
From Contributed Reports
Saturday, April 14, 2018
Edgecombe County Commissioner Viola Harris recently attended the N.C. Association of County Commissioners Joint Risk Management Agency Board of Trustees meeting to conduct business related to the association’s Risk Management Pools.
As a member of the Board of Trustees, Harris oversees the association’s risk pools offered to counties and related entities including workers' compensation and liability and property coverages.
“It has been a very interesting six years as a member of this Board of Trustees,” Harris said. “I’ve learned so much about how the insurance pools help counties. Serving as the vice chairman over the last two years has given me an opportunity for a closer look at how the pools work. This is a family taking care of family. Counties would not be able to get this kind of insurance on the market.”
During the meeting, the Board of Trustees was updated on the viability of the risk pools and various programs and incentives designed to promote safety and benefit loyal risk pool members. The board was presented with analysis on the actuarial reserve, which showed that both pools continue to advance in financial strength. This allows NCACC to expand options for member services and provide greater resilience to changing market conditions.
“Currently, 67 counties are taking advantage of the pools,” Harris said. “The pools consistently try to find ways to give incentives to counties who are in one or more of the pools. When the pools make a profit, it profits the counties that take part as a member.”
The board was also briefed on newly proposed programs to mitigate risks for law enforcement officers that moonlight for private employers and training for county management staffs on preventing and addressing active shooter situations. Finally, the board discussed the upcoming regional meetings this spring, which will focus on the strategy to renew and expand membership for 2018.
NCACC’s risk management pools give counties access to affordable insurance coverage that may not be available or accessible in the open market. Member counties that join NCACC’s risk management pools also receive services and training to help them develop policies that reduce their exposure to risk. The risk pools are designed specifically for counties and they are managed by counties through the commissioners and county staff who serve as members of the Board of Trustees.