This is a program authorized by the Florida Legislature, which allows the Florida College System in the state of Florida to join together to develop and implement a statewide cooperative system of risk management under one comprehensive plan. This is accomplished using the Florida College Sytem Risk Management Consortium.

The term “Florida College System Risk Management Consortium” includes all participating colleges and is hereinafter referred to as the “Consortium”.

The Consortium is created by mutual agreement of the Board of Trustees of the Florida College System. As a participating member, the colleges agree to comply with the policies and procedures and other directives as may be issued by the Risk Management Council (Council of Presidents), which is the Consortium supervising authority.

The Florida Legislature has provided authority for the Florida College Sytem to participate in programs of self-insurance.

Specifically:

F.S. 440.38 provides authority for self-insuring workers’ compensation

F.S. 111.072 provides authority for self-insuring liability issues

F.S. 1001.64(27) provides authority for self-insuring property

F.S. 112.08 provides authority to self-insure health and life programs

The benefits of the self-insured program for general liability center around F.S. 768.28, which addresses the issue of limited waiver of sovereign immunity.

Funds collected from participating colleges by the Consortium, will be utilized to provide the necessary loss funds, administrative services and purchase of excess insurance to cover a catastrophe or series of catastrophes.

Protection is provided against civil actions, loss or damage to property owned or controlled, casualty losses, workers’ compensation and such other protection as mutually agreed upon.

The benefits provided by the Consortium are for the continued well being and safety of Consortium members, the protection of property and to minimize the cost of the program to each college.

Consortium Services Include:

• Management of self-insurance, specific insurance and excess insurance for 27 colleges in the Property/Casualty programs and 22 colleges in the Employee Benefit Plans

• The Consortium coordinates the marketing and purchasing and administration of all excess insurance, specific insurance, self-insurance and TPA requirement for both Property/Casualty and Employee Benefit Plans

• Providing SREF inspection services for 23 colleges including publication of a Safety Manual and Safety Strategy Plans for all colleges

• Recommend actions for new and renewal coverage’s to colleges as needed using the Consortium Operations Committee and the Risk Management Councils for approval process

• Issuing specific subject risk management memorandums to colleges

• Providing coverage and claims information for participating colleges as needed

• Coordinating with fiscal agent all Consortium accounting and HR needs

At FCSRMC we believe “Everyone is a Risk Manager” ERM…Each one has the opportunity to impact Risk, either positively or negatively.

Risk management is an increasingly important business driver and stakeholders have become much more concerned about risk.

Risk may be:

• A driver of strategic decisions
• The cause of uncertainty in an organization
• Embedded in the activities of the organization

An enterprise-wide approach to risk management enables an organization to consider the potential impact of all types of risks on all processes, activities, stakeholders, products and services.