On June 12, 2024, an Associated Press article reported that a fire had ravaged a building used by the Coeur d’Alene Police Department, destroying essential equipment and vehicles, including a SWAT BearCat armored unit, multiple motorcycles, and laptops. While it’s a relief that no one was injured, the incident raises serious questions about the city’s preparedness and risk management practices.

Failure in Risk Management:

It’s alarming to note that city officials, including the highest-ranking ones, appear unsure whether the lost assets are covered by insurance. This uncertainty reflects a significant failure in risk management protocols. Effective risk management involves not only safeguarding physical assets but also ensuring that there are clear and comprehensive insurance policies in place to cover potential losses.

Our Perspective:

At UWIB Risk & Insurance Solutions, we believe that such negligence is unacceptable. Our role as risk managers is to foresee potential risks and implement strategies to mitigate them. This includes conducting regular risk assessments, ensuring adequate insurance coverage, and maintaining a robust emergency response plan.

Call to Action:

The Coeur d’Alene incident should serve as a wake-up call for all communities. It’s imperative to have a competent and proactive risk management team that can anticipate potential threats and respond effectively. We encourage cities and organizations to review their current risk management strategies and insurance policies to ensure they are fully prepared for any eventuality.

Conclusion:

Effective risk management and comprehensive insurance coverage are not optional; they are essential to protecting our communities and their assets. At UWIB Risk & Insurance Solutions, we are committed to providing our clients with the highest level of service and expertise to ensure they are never left vulnerable.

Contact Us:

For more information on how we can help protect your community and assets, visit our website at uwibrisk.com.

Dana Coates

615-234-0282