Laserfiche WebLink
City of Tukwila My WebLink |HelpSearch Tips |About |Sign Out
<br />(c) "Claims" shall mean demands made against the Authority arising out <br />of occurrences which are within the Authority's joint protection program as <br />developed by the Board of Directors. <br />(d) "Excess Insurance" shall mean that insurance purchased on behalf of <br />the Authority to protect the funds of the Authority against catastrophes or an <br />unusual frequency of losses during a single year. <br />(e) "Executive Committee" shall mean the Executive Committee of the <br />Board of Directors of the Authority. <br />(f) "Fiscal Year" shall mean that period of twelve months which is <br />established as the fiscal year of the Authority. <br />(g) "Insurance" shall mean and include self- insurance through a funded <br />program and /or any commercial insurance contract. <br />(h) "Insurance Manager" shall mean that employee of the Authority who <br />is appointed by the Board of Directors, and responsible for the management and <br />administration of the joint protection program of the Authority. <br />ARTICLE 2 <br />Purposes <br />This agreement is entered into by Cities in order to provide more <br />comprehensive and economical liability coverage, to reduce the amount and <br />frequency of Cities' losses, and to decrease the cost incurred by Cities in <br />the handling and litigation of claims. This purpose shall be acccomplished <br />through the exercise of the powers of Cities jointly in the creation of a <br />separate entity, the Puget Sound Cities Interiocal Insurance Authority (the <br />Authority), to administer a joint protection program wherein Cities will pool <br />their losses and claims, jointly purchase excess insurance and administrative <br />and other services including claims adjusting, data processing, risk <br />management consulting, loss prevention, legal and related services. <br />It is also the purpose of this Agreement to provide, to the extent <br />permitted by law, for the inclusion at a subsequent date of such additional <br />municipal corporations organized and existing under the Constitution or laws <br />of the State of Washington as may desire to become parties to this Agreement <br />and members of the Authority, subject to approval by the Board of Directors. <br />2 <br />