BICEP 2-1988 - Laserfiche WebLink

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EXHIBIT G BIG INDEPENDENT CITIES EXCESS POOL LIABILITY RISK MANAGEMENT REQUIREMENTS Each Participant shall maintain a full time risk management employee or other risk man- agement professional or otherwise must be able to demonstrate a sound professionally administered risk management program. If there is no risk manager then approval is subject to unanimous consent of the membership. The person so designated witl serve as liason for the Part[cipant to the Authority for all matters re~ating to risk management. (Risk management means the process of identifying, evaluating, reducing, controlling, translating and eliminating risks through various methods such as purchasing Insur- ance, funding claims payments, legal defense of claims, controlling losses and claims reserves.) Each Participant shall maintain a loss preVention program, and shall consider and act upon all recommendations of the Authority concerning the reduction of unsafe condi- tions. {Loss prevention means developing techniques for changing or removing condi- tions which would be likely to cause loss.) Each Participant shall maintain records of ctaims which provide at a minimum, the following information by fiscal year: number of claims (open and closed); amounts paid; amounts reserved; and the total amount incurred (allocated expenses shall be in- cluded). If losses are capped the potential excess amount provided for all ~osses incur- red in excess of 50% of the Retained Limit or $ 500.00 whichever is less. Loss records will be provided for the preceding five years. Copies of records maintained shall be submitted to the Authority as directed by the General Manager, Liability Risk Committee. Claims Review Committee or other duly constituted committees. 4. The Participant shall use only qualified personnel to administer its Liability claims. 5. The Participant shall litigate suits using qualified defense counsel experienced in tort Liability. Authority retains the right to associate with the defense counsel for cases like- ly to exceed the Participant"s retained 'i'he Participant shall use. as guidelines, the Authoritie's Liat~ility Claims Audit Control Guidelines and shall advise its claims administrator that these standards are to be utili- zed in the Authoritie's Liability claims audits. The Participant shall furnish to the Authority written notice as soon as practicable of any potential or actual claims to recover losses or damages within or alleged to be with- in the scope of the Memorandum in accordance with the following requirements: A. A claim or occurrence which is, or is reserved at, an amount at least equal to. 50% of the Participant's retained limit or $500,000 whichever is less; A claim or occurrence which is the result of an incident involving potential joint and several Liability, if reserved at 50% of the Participant's retained limit or $ 500,000 whichever ~s less; BICEP 3/9/8B G-I