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VIII. RISK MANAGEMENT POLICY <br /> A. PURPOSE <br /> The risk management policy assures proper insurance coverage of city assets <br /> while minimizing risk. <br /> B. POLICY <br /> The city will regularly analyze its insurance policies to assure proper <br /> coverage and deductibles on city assets. <br /> The city will maintain a risk management fund to pay all insurance premiums <br /> and deductibles for the city except employee hospitalization, dental, life <br /> and long -term disability insurance benefits. <br /> The city will charge individual department activities for their related <br /> insurance cost. <br /> The Risk Management Fund will replace (self- insure) city assets which are <br /> not covered under insurance policies, which are destroyed or stolen. <br /> C. IMPLEMENTATION <br /> The city is a member of the League of Minnesota Cities Insurance Trust <br />