Risk Management

The role of the Lafayette Parish School Board’s (LPSB) Risk Management Department is to review risk associated with the operation of the school district, recommend ways to minimize losses, and handle any claims for damages.  The goal of this department is to properly assess the risks facing the District and develop effective and fiscally sound principles to handle those risks.  

Risk Management is responsible for administration of the District self-insurance funds and excess insurance policies for workers compensation, general liability, crime, cyber and property damage to buildings and equipment.  Risk Management investigates and processes all claims, negotiates coverages and premiums and acts as a liaison with excess insurance carriers, third party administrators and authorizes payments from district funds as appropriate.

This office also reviews contracts coming through the District for approval by the Superintendent.  The Risk Management Department acts as a central depository for all contracts in an effort to properly document and retain all contracts approved by the Superintendent.  

Risk Management provides support for the following:

• Workers’ Compensation
• Employee, Student and Visitor accident reporting
• General Liability, Property/Casualty Insurance
• School and workplace safety information
• Employee Training (Required and Post Accident)
• Voluntary Student Accident Insurance
• Contract Review and Management
• Environmental matters
• Drug/Alcohol Screening
• Litigation management
• Administering self-insurance

What is self-insurance?

Essentially, self-insurance is a planned financial program of paying sustained losses from internal funds.  The LPSB is self-insured for workers’ compensation, general liability and property losses.  The department conducts quarterly reviews of all claims.  Currently the General Liability excess policy covers losses greater than 250,000 ($500,000 automobile accidents) up to $5,000,000.  The Workers’ Compensation excess policy covers losses over $1,000,000.  Property losses are covered by an excess policy after a $1,000,000 retention, in most cases.