There is hereby created in the treasury of the city a fund to
be known as the general liability self-insurance fund.
(Ord. 1748 § 1, 2002)
Expenditures from the general liability self-insurance fund
shall be limited to the payment of present and future general and
automobile liability claims and claims expenses, claims administration
costs, lost control programs, claims investigation fees, legal defense
costs, risk management service fees, public safety and injury prevention
programs and any other risk management fees related to general liability
and automobile liability claims or the prevention thereof.
Expenses arising from experience based surcharges for general
and automobile liability claims shall be payable from the general
liability self-insurance fund.
(Ord. 1748 § 2, 2002)
The general liability self-insurance fund shall charge annual
insurance premiums to the city's various operating funds. Premiums
may be charged through an approved cost allocation plan consistent
with generally accepted accounting principles or, in the alternative,
may be based upon the experience rating of the various city departments.
Rebates accruing to the city from favorable experience in liability
claims shall be credited as revenue to the general liability self-insurance
fund.
(Ord. 1748 § 3, 2002)
The city manager or a designated representative thereof shall
cause an actuarial study of the general liability self-insurance fund
to be performed every two years to quantify the city's potential liability
for claims incurred but not reported.
(Ord. 1748 § 4, 2002)
