Specifications include, but are not limited to: DRM is seeking a claims audit to: Verify DRM administers claims competently, while providing effective services to its insureds; Ensure adherence to sound and accurate procedures; Verify compliance with applicable laws, regulations and industry best practices for self-insurers; and Benchmark annual performance. Achieving DRM’s goals will require: A detailed evaluation of DRM’s claims handling practices by: Reviewing current claims-handling manual for changes taking place during the previous year; Interviewing staff to facilitate understanding of claim procedures and philosophy; Examining a sample of open and closed claims to review the effectiveness of procedures in place and compliance with those procedures; Providing daily findings to foster communication and facilitate a timely report; Identifying needed changes to meet standards suggested by industry best practices, state law, and DRM’s own procedures; and Submission of a timely audit report no later than July 1st of each fiscal year. SCOPE OF WORK The audit is to include a review of Risk Management’s claims administration, including: Loss Reserves Payment Reconciliation Allocated Expenses File Documentation Regulatory Compliance Subrogation/Salvage Accuracy and Timeliness of Claim Setup Coverage Verification Prompt Contacts Claim Investigation and Fraud Identification Liability and Damage Assessment Periodic Monitoring Cost Containment Payment Promptness Excess Reporting Case Finalization and Settlements At least 75 liability claims, 25 property claims, and 15 automobile physical damage claims must be selected for review for each 12-month period.