The RMAS shall:
(A) Recommend the mix of insurance and self-insurance that most effectively and economically finances the cost of mitigating current and future risks to the city;
(B) Recommend annual risk management budget submissions for the affected departments in the manner required by § 9B-1 of the Charter of the city;
(C) Develop and implement plans which fairly and effectively allocate risk management costs to the various departments and agencies of the city, including cost reduction programs/initiatives;
(D) Review the accounting and financial reporting related to the city's risk management activities;
(E) Review the management and reporting of claims and losses;
(F) Retain, through the budgeted appropriations of the Department of Finance or as allowed by the policies governing funds used through the appropriate internal fund account, and in compliance with the city's procurement procedures, services of actuaries, third party administrators and insurance carriers required to effectively administer the risk management programs;
(G) Recommend policies, consistent with requirements of the Charter of the city and this code, for all risk management functions;
(H) Develop policies, including interest rate assumptions for the Risk Management Internal Service Funds, that assure appropriate reserves required for the prudent management of self-insured risk exposures;
(I) Develop policies which ensure appropriate coverages required for the prudent management of insured risk exposures;
(J) Develop risk reduction programs;
(K) Develop policies and methods of tracking vendor warranties on supplies, equipment, products and materials in order to protect the interests of the city;
(L) Prepare policies and recommendations for submission by the Mayor to the Board of Aldermen, if legislative action is required; and
(M) Recommend proposed settlements of all claims against the city, in accordance § 36.55 of this code and with the terms and requirements of the adopted policies.
(Ord. passed 4-7-2003)