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L.A. Story

Victor Parker, risk management director for the City of Los Angeles, shares his mitigation strategies for some of the trickiest exposures in the U.S., extols the value of sticking ones neck out, and proudly discusses the program innovations introduced under his watch that saved millions and generate revenue.

By Shawn Moynihan | Updated on March 29, 2013

Insurance-renewals week has arrived in the City of Los Angeles, one of the most stressful times of year for any risk manager—but Victor Parker exudes calm. 

It’s a formidable task that entails Parker to reacquaint himself with a list of exposures so varied and so vast that it would make most risk managers’ eyes water: Police and firefighting forces large enough to serve the second-biggest city in America, covering an area of 469 square miles. The largest water and power municipality of its kind in the country. The city’s cargo port and world airports (including Los Angeles International Airport), two of several potential key targets for terrorism. A squadron of helicopters valued at $86 million. The owner-controlled insurance program for L.A.’s massive wastewater-tunnel projects. Auto liability insurance for the city’s fleet of trash haulers. The zoo. Elections insurance. Cost allocation for Workers’ Comp and General Liability. Increased Cyber Liability considerations since most of L.A.’s city agencies outsourced their e-mail and other applications in 2010 as part of a five-year, $7.25-million contract with Google.

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Shawn Moynihan

Shawn Moynihan

Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].

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