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Resolution No. 88-~ <br />Page 6 <br /> <br /> (c) relief from the burden of paying premiums to <br /> commercial insurers at levels reflecting the insurers' <br /> high costs of underwriting, administration and <br /> brokerage fees since the Authority's costs will be <br /> limited to reasonable administrative costs, <br /> <br /> (d) relief from the commercial insurers' rights <br /> under excess liability policies to force claim <br /> settlements which are payable primarily in each case <br /> from the Participant's self-insurance funds, <br /> <br /> (e) access to the commercial reinsurance market <br /> in future years when commercial reinsurance is <br /> available at rates deemed favorable by the <br /> Participants, and <br /> <br /> (f) actuarially-determined premium payments <br />calculated to provide amounts in each year necessary <br />to maintain the Claims Payment Fund at an actuarially <br />sound level and therefore sufficient to reserve <br />against the incurred losses of the Participants; <br />WHEREAS, this Council hereby further determines that <br />the Participation Premium (as defined in the Coverage <br />Agreement) to be paid in each year by each Participant, <br />including the City, as provided for and upon the <br />conditions set forth in the Coverage Agreement will be <br />payable only upon the condition of the receipt of the <br />consideration represented by the insurance protection to <br /> <br /> <br />