The Mutual aims to reduce members’ Total Cost of Risk (TCR) over time by methodically reviewing losses across the membership base and the wider public sector. The Mutual will work with its members to reduce losses from claims and therefore, over time, the cost of cover.
By local government, for local government.
Risk management is the identification, evaluation, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events.
The mutual will support effective risk management across the full range of statutory and discretionary functions exercised by local authorities, including highways, education and social care, planning, housing, environment, recreation and wellbeing.
By making risk management an essential part of the way we work together, the Mutual can help you identify and prioritise your risks and take practical steps to manage them.
The most successful mutuals work because of the collective knowledge of the membership and the identification of common and emerging risks.
The Mutual will develop and share best practice in risk management to improve the identification, mitigation, reduction and management of risks over time. This work will be data driven and evidence based. It will aim to:
These approaches will apply to all classes of risk, from liability and professional indemnity through to property damage and business interruption.
The Risk and Insurance Manager or lead officer in each council will work with the Mutual, acting as the coordinating point within each council to help key services understand and manage their own risks of losses.
If required the Mutual will also be able to provide assistance in areas such as:
The Mutual will work methodically and collaboratively with its members to reduce losses from claims and therefore, over time, the cost of cover. Information will be shared so that members can see how their cost of cover relates to their claims and to understand the drivers of the risks which turn into claims. The Mutual will draw on the LGA’s extensive expertise and experience to share insights for particular professions and services as well as issues affecting councils as a whole. It will draw on sector expertise in children’s services, highways, adult social care, education and property management to consider changes in legislation, policy and practice which can help (or could hinder) effective risk management, and identify new or emerging risks.
The Mutual will draw on the Local Government Association’s extensive expertise and experience to share insights for particular professions and services as well as issues affecting local authorities and help identify new and emerging risks.
Local Government Mutual Limited is a company registered in England and Wales with registered number 11339811 and its registered office at 18 Smith Square, London, SW1P 3HZ.
Local Government Mutual Limited (FRN:820223) is an appointed representative of Regis Mutual Management Limited which is authorised and regulated by the Financial Conduct Authority, FRN: 479202.
Local Government Mutual Limited is managed by LGM Management Services Limited, a company registered in England and Wales with registered number 11344946 and its registered office at 8 Maltings Place, 169 Tower Bridge Road, London, SE1 3JB.
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