The Annual Review and Audit systematically identifies and mitigates liability exposures. It is an integral part of the COMPACT program. The Reps conduct this Annual Review and Audit and upper management participates by using the member's completed Audit Questionnaire. This review serves to steadily improve a member's risk management position and loss profile. In addition to the Audit Questionnaire the Risk Management Representative reviews the following information with member staff:
- Analysis of Loss History providing specific direction for training and/or consulting
- COMPACT Status Report
- Coverages: Liability, Auto, Property, Boiler and Machinery, Crime and Fidelity
- Property and Auto Schedules
- Rates and deductibles, and any special programs
- Risk Profile and Current Liability Loss Runs
- Washington Cities Insurance Authority (WCIA) Services