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<br />(b) The Authority shall maintain an insurance limit for Member Cities <br />determined by the Board of Directors to be adequate. The Board may arrange <br />purchase of a group policy for Member Cities interested in obtaining <br />additional coverage above this limit, at an additional cost to those <br />participating Cities. <br />(c) The Board may arrange for the purchase of any other insurance <br />deemed necessary to protect the funds of the Authority against catastrophes. <br />ARTICLE 13 <br />Development of the Joint Protection Program <br />(a) As soon as practicable after the effective date of this Agreement, <br />but prior to the effective date of the joint protection program, the Board of <br />Directors shall adopt the Authority's joint protection program, including the <br />insurance coverage provided for in Article 12, the amount of initial premiums, <br />the precise cost allocation plan and formula, the pro forma financial <br />statement of the Authority, and the amount and type of excess insurance to be <br />procured. <br />(b) The joint protection program provided by the Authority shall extend <br />to all city department operations except transit, aviation and hospitals, <br />unless otherwise excluded by the Board of Directors. <br />(c) The initial premium for each City shall be determined by the Board <br />on the basis of the City's payroll as compared to the total payroll of all <br />Member Cities, excluding such portion of a City's payroll as may be <br />attributable to operations not covered by the joint protection program. The <br />total initial premium for a Member City in the first year of operation of the <br />joint protection program shall not exceed the total premium paid by such City <br />for the preceding year, except that if during that preceding year a City was <br />partially self insured, that City's initial premium shall take into account <br />the City's loss experience under said self insurance program. <br />(d) The cost allocation plan and formula adopted by the Board shall <br />provide for an adjustment in the Member. Cities' premiums at the end of the <br />first year of operation, and annually thereafter, in order to produce a <br />premium for the following year for each City that is equal to the sum of the <br />following three items: <br />8 <br />