Did you know that your entity could receive a discount on its premiums by simply completing the Risk Management Assessment (RMA)?
The RMA is one way VRSA helps members measure their progress in specific areas of risk management. It consists of 18 simple yes-or-no questions, such as: Does your entity have a vehicle use and authorization policy? Or: Does your entity have a process for reporting incidents involving safety, harassment, discrimination, or other similar issues?
Group self-insurance pools, such as VRSA, when first authorized through the Code of Virginia § 15.2- 2703, were created not just to provide insurance, but also “for the purpose of providing to the participating political subdivisions risk management services…”
“Providing risk management services, such as education and training, is one way we help members prevent and reduce losses,” said VRSA Managing Director Marcus Hensel. “The assessment can quickly help members see where they are in managing their risk.”
Members demonstrating a 100 percent commitment to implementing these practices are eligible for a discount. The RMA can be completed at any time each year and is available on the VRSA website under Policy Admin. As users progress throughout the assessment, the score automatically updates.
It is important for the top manager of each entity to review the completed RMA to ensure they are aware of risks and best practices at the highest level.
For more information on the RMA, contact your risk services consultant at: 800-963-6800.