450 - Risk Management & Insurance

Records relating to establishing risk management strategies, developing effective loss control and reporting systems, obtaining insurance coverage, and handling claims for injury or damage.

Record types include correspondence and reports.

For the administration of employee insurance benefits, see primary 1315.
For business continuity plans, see primary 275.
For claims payable from or to the Crown, see primaries 925 and 935.
For loss reporting, see secondary 470-08.

non-OPR NOTE: Offices will retain non-OPR copies of records for: SO nil DE 

Primary-
Secondary
Records Series OPR  
  A SA FD  
450-00 Policy and procedures SO nil DE  
450-01 General CY+2y nil DE  
450-02 Insurance coverage
SO =  when the insurance is replaced with a new policy, or not renewed, or the exposure does not exist anymore
3y = The retention period is consistent with the retention rationales for related insurance policy records maintained by the central agency under the Risk Management ORCS (schedule 179474).  It is based on the one-year retention period for commencing an action under the Insurance Act (RSBC 1996, c. 236, s. 22[1]).  The additional two years provide for extensions and the service of documents.
SO+1y 2y DE  
450-20 Claims for injury or damage
SO = when claim is resolved and closed, and if applicable, when minors named in the claim reach the age of majority (i.e., 19 years)
3y = The retention period is based on the two-year limitation period for commencing an action arising from property damage or personal injury under the Limitation Act (RSBC 1996, c. 266, s. 3), plus one year for the service of documents.
NOTE: Classify employee work-related accidents and injuries under secondary 1560-20.
SO+1y 2y DE PIB
450-30 Risk management files
SO = upon project completion or cancellation, resolution of issue, or provision of information, whichever is relevant
SO+1y nil DE  

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