Laserfiche WebLink
3.1.10 'Program Year" shall mean a period of time in which each <br />program shall be segregated for ease in determining coverage <br />premiums. <br />3.1.11 'Participation" or "Participating" shall mean a Member has elected <br />to jointly participate in the management of a specific risk and is a <br />member of that Risk Management Program. <br />3.1.12 "Risk Management' shall mean the process of identifying, <br />evaluating, reducing, transferring, and eliminating risks. Risk <br />Management includes, but is not limited to, various methods of <br />funding claims payments, purchasing insurance, legal defense of <br />claims, controlling losses, and determining self -insured retention <br />levels and the amount of reserves for potential claims. <br />3.1.13 'Risk Management Program" shall mean those coverage programs <br />of risk sharing, insurance, and risk management services created <br />by the Authority to manage specific Risk Management Programs, <br />i.e. "Liability Risk Management Program". <br />ARTICLE 4. PARTIES TO THE AGREEMENT AND RESPONSIBILITIES OF <br />MEMBERS. <br />4.1 Each Member represents and warrants that it intends to, and does hereby, contract <br />with all other Members listed in Appendix "A", and any new members admitted <br />to the Authority pursuant to Article 16. Each Member also represents and <br />warrants that the withdrawal or expulsion of any Member, pursuant to Article 14 <br />Approved by the Governing Board October 13, 2004 <br />6 <br />55E-12 <br />