Sec. 21.76.900. Definitions.
In this chapter, (1) “adjustment expenses” means expenses for investigative, processing, legal, actuarial, arbitration, and settlement services incurred in the adjustment of losses, claims, or benefits; (2) “administrator” means a person or group appointed by the board of directors to administer a joint insurance arrangement or a joint insurance fund; (3) “board” or “board of […]
Sec. 21.76.050. Contracting with private administrators.
A cooperative agreement may authorize the board of directors to enter into contracts for services necessary to perform the functions of a joint insurance arrangement. The person contracting to perform the functions must be appropriately licensed under this title if this title so requires.
Sec. 21.76.060. Delegation of power to settle claims.
A cooperative agreement may delegate to the board of directors, or authorize delegation by the board to another person or group, the power to compromise, arbitrate, or otherwise settle claims on behalf of the arrangement.
Sec. 21.76.070. Excess insurance.
A cooperative agreement may authorize the board of directors to purchase excess or catastrophic insurance on behalf of the joint insurance arrangement. The cost of the insurance shall be apportioned in the manner specified in the joint insurance agreement. The board may purchase insurance under this section only from an insurer authorized to do business […]
Sec. 21.76.080. Joint insurance fund.
(a) A joint insurance arrangement shall establish a joint insurance fund. The fund consists of money (1) contributed by members of the joint insurance arrangement through budgetary appropriations or transfers from a self-insurance reserve; (2) contributed by officers and employees of members of the joint insurance arrangement under an employee benefit plan; and (3) collected […]
Sec. 21.76.090. Filing of agreement.
The board of directors shall file a copy of the cooperative agreement with the director of insurance at least 60 days before the effective date of the agreement. The agreement shall be available for public inspection.
Sec. 21.76.100. Regulations.
A cooperative agreement may authorize the board of directors to adopt rules not inconsistent with law for the fair and equitable administration of the joint insurance arrangement and the joint insurance fund.
Sec. 21.76.110. Subrogation.
A joint insurance arrangement has a right of subrogation with respect to its participants to the same extent that an insurer has a right of subrogation with respect to one of its insureds.
Sec. 21.76.120. Debt financing.
(a) A municipality or a municipal joint insurance arrangement may authorize the issuance of negotiable or nonnegotiable bonds, notes, or certificates of participation to establish reserves and to self-insure against liability not covered by excess insurance or reinsurance. A bond, note, or certificate issued under this subsection by a municipal joint insurance arrangement shall be […]
Sec. 21.76.010. Authority to establish joint insurance arrangements.
(a) Municipalities and their public corporations, city and borough school districts, and regional educational attendance areas may enter into cooperative agreements with each other for the purpose of establishing, operating, or participating in joint insurance arrangements through which the participating members agree to pool contributions in order to either assume risks from losses to the […]