FOLLOW-UP REPORT: PROPERTY AND CASUALTY INSURANCE

November 16, 2016

The OIG found the City made improvements to its property and casualty insurance program since hiring a Risk Manager in June 2014. Specifically, the City:

  • secured an updated Insurance Commissioner Certification for property and flood insurance coverage to make sure that city properties would be eligible for future FEMA assistance;
  • corrected formatting problems and completed missing information on the list of insured properties identified in the original report; and
  • issued requests for proposals to solicit producer of record services that included cost and additional standards for comparing and evaluating proposer qualifications.

However, evaluators found the City did not develop a complete and accurate list of insured properties or obtain appraisals on any insured properties. Successful completion of these tasks could allow the City to achieve additional savings on insurance premiums.

https://nolaoig.gov/wp-content/uploads/2022/11/OIG-logo.png
Copyright © 2022 New Orleans Office of Inspector General
Contact
(504) 681-3247
525 St Charles Ave, New Orleans, LA 70130