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<br /> <br /> <br /> <br /> <br /> <br /> <br /> COUNTY OF HAWAII <br /> DEPARTMENT : FINANCE <br /> <br /> <br /> PROCEDURES MAN U A L- RISK MANAGEMENT <br /> SUBJECT: <br /> RISK MANAGEMENT PROGRAM <br /> <br /> <br /> IV. Elements of Risk Management <br /> 1. Identification of exposures - a continuous discovery process to <br /> identify County resources and the loss exposures that could <br /> affect them materially. <br /> 2. Analysis of risk - a continuous process to measure financial <br /> impact of loss exposures by analyzing past loss frequency and <br /> severity, and by estimating future loss frequency and severity. <br /> 3. Control of risk - the planned and coordinated program to <br /> eliminate or reduce losses and risks by the methods of avoidance, <br /> transfer or retention. <br /> 4. Funding of risk - the provision of sufficient funds to pay for- <br /> losses by the most effective use of County resources, including <br /> the purchase of insurance. <br /> 5. Administration of risk management program - the development of <br /> personnel and an administrative management program to effectively <br /> use County resources. <br /> V. Responsibilities <br /> 1. Agency heads, other officers and supervisors shall be primarily <br /> responsible for carrying out the County's risk management program <br /> by: <br /> a. Identifying and analyzing the probable financial impact of <br /> exposures within their areas of responsibility and interest. <br /> b. Taking appropriate action to avoid or minimize loss which <br /> might result from identified exposures. <br /> C. Reporting all loss exposures as well as actual losses, <br /> accidents or incidents occurring in their area of <br /> responsibility and interest. <br /> d. Assisting in carrying out the County's risk management <br /> program. <br /> <br /> <br /> <br /> <br /> <br /> <br /> EFFECTIVE DATE: REVISION NO.: PAGE OF SECTION-CODE-APPENDIX <br /> 2 8 <br />