Auditors: Risk management privatization saved La. $10M - FOX 8 WVUE New Orleans News, Weather, Sports

Auditors: Risk management privatization saved La. $10M

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BATON ROUGE, La. (AP) - Auditors say the state has saved $10 million in the first two years of a privatization contract for claims processing and loss prevention services for the Office of Risk Management.

The findings by the legislative auditor's office were presented Thursday to lawmakers who want to keep tracking the $75 million contract to make sure the state continues to save more than it would have spent keeping the work in-house.

Gov. Bobby Jindal's administration hired Mandeville-based F.A. Richard and Associates Inc. in 2010 under a five-year contract to take over much of the Office of Risk Management's workload.

The risk management office is the state's self-insurer, with agencies paying premiums for lines of insurance covering items like medical malpractice, worker's compensation cases, property damage and road hazards.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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