[Adopted as §§ 2-180 through 2-183 of the 1965 Code]
[Amended 6-3-2014 by Ord. No. 100-2014]
There shall be an Insurance Commission, the membership of which shall consist of the following: City Auditor, the Superintendent of Public Buildings and the Chair of the Board of Assessors.
The duties of the Insurance Commission shall be as follows: to survey annually, and more frequently at its discretion, all the insurance carried for the benefit of the City and to recommend to the Mayor such changes, either in securing additional insurance or reducing present insurance, as the Commission deems for the best benefit of the City; to recommend to the Mayor the ways and means whereby the City may more economically, efficiently and effectively procure its insurance; in case of losses, to meet with the broker of record and the insurance adjusters in determining the final amounts to be paid to the City. The Insurance Commission shall exempt from its study surety bonds filed by officials and employees of the City for the faithful performance of their duties, contractors faithful performance bonds and insurance on City funds in the custody of the City Treasurer.
No insurance for the benefit of the City shall be placed without being submitted to the Insurance Commission for recommendation or suggestion.