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Finance Highlights 2006 1004
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Finance Highlights 2006 1004
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6/6/2007 4:01:51 PM
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11/3/2006 3:13:07 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Committee Highlights
Document Date (6)
10/4/2006
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_CC Agenda 2006 1106
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\City Clerk\City Council\Agenda Packets\2006\Packet 2006 1106
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<br />Case disposition (verdict, pre-suit settlement, pre-trial settlement, <br />etc.). <br /> <br />· Expand utilization ofl-VOS CIS reports to provide the City: <br /> <br />Quarterly report of accident occurrence to receipt by Risk <br />Management Analyst lag time. <br /> <br />Monthly pre-litigation appearance report. <br /> <br />Quarterly litigation results report. <br /> <br />Liability Risk Management Organization <br /> <br />Risk management functions are necessary to reduce frequency of loss occurrences and <br />reduce the impact of losses that do occur. Currently, the Risk Management Analyst and <br />Administrati ve Assistant who report to the Director of Finance, perform the bulk of the <br />City's liability risk management functions. <br /> <br />The liability claims frequency at the City has been stable. Our analysis finds the City is <br />providing staff resources sufficient to address all critical needs related to liability risk <br />management. However, if there is an increase in liability claims volume, the City will <br />have to consider expanding its staffing in this area. <br /> <br />Financial Structure <br /> <br />The City's liability risk financing program is structured soundly. We judge the program's <br />$1 million self-insured retention is comfortably within the City's capacity to retain risk. <br />The program's $40 million coverage limit is appropriate and prudent. The form of <br />coverage is broad and in line with the best forms maintained by California cities. The <br />liability coverage-provider, CJPRMA, is CAJP A-accredited with excellence and funded <br />conservatively. The City meets the best practice standards by fully funding for its <br />pending self-insured claims, including a margin for contingencies. <br /> <br />3 <br /> <br />ARM <br /> <br />Tee h <br />
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