11-147 - WA Cities Insurance Authority (WCIA) - MOU for Large Deductible Program

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C. WCIA will provide Tukwila with monthly reports detailing all expenditures charged to this Fund. Tukwila will have ten (10) working days from the date of this notification to reimburse the Fund to its required deposit level, as established in clause B above, by wiring funds to WCIA's bank account. D. In the event that the Fund is impacted by an unusually Iarge volume of current or pending claims or expenses, and upon special notice from WCIA detailing the nature of this unusual demand and the amounts thereof, Tukwila will wire transfer the requested amount within ten (10) days to avoid the possibility of a negative balance in the Fund. E. It is expressly understood that WCIA shall not be required to advance its own funds to pay losses, allocated loss expenses or banking charges within the Deductible level, or to perform any services hereunder if Tukwila fails to provide adequate funds as herein set forth. F. Reimbursement of the Fund not received within ten (10) days of written notification will be charged a finance fee of 1 III. TERM This Memorandum shall become effective on January 1, 2012 and shall continue to be in force as long as Tukwila continues as a WCIA member participating in the Large Deductible program. N. GENERAL PROVISIONS A. WCIA shall continue to have full authority to negotiate and settle claims within Tukwila's deductible level, and up to WCIA coverage limits without prior approval from Tukwila. WCIA, where possible, shall review all claims with Tukwila prior to settlement. B. WCIA shall continue to have full authority to appoint and retain defense attorneys to defend Tukwila on any claim or lawsuit tendered to WCIA under this Memorandum and to control the defense of said claims or lawsuits. C. All claims and related files generated by WCIA as a result of its activity under this Memorandum shall remain at all times the property of WCIA. All such files will be available at WCIA offices for review and inspection by agents of Tukwila. D. It is understood and agreed by the parties that a claim has occurred when the incident, accident or event giving rise to the claim has occurred. The fact that the claimant may not report the claim until some subsequent time or that Tukwila might not report it to WCIA until some Subsequent time does not change the meaning of when the claim occurred for purposes of this Memorandum. Any claim that occurs during a coverage year in which Tukwila is a participant in the Large Deductible program shall be administered and handled by WCIA per the provisions of this memorandum.