COM 0804.015 2002-2004 - Laserfiche WebLink

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COUNTY OF HAWAII [DEPARTMENT. FINANCE PROCEDURES MANUAL. RISK MANAGEMENT SUBJECT: RISK MANAGEMENT PROGRAM 3. In accordance with Ordinance 86-35 (Section 2-157, Hawaii County Code), an annual appropriation shall be made to the self-insurance fund in the amount to be determined by the mayor and the County Council. The Director of Finance may also, with the approval of the Mayor and County Council, transfer prior to year end, all or a portion of the appropriation not needed in the miscellaneous insurance, claims and judgments account to the self insurance fund. 4. The self-insurance fund may only be dissolved or used for purposes other than those specified herein unless the dissolution or non-specified use is approved by the unanimous vote of the County Council. S. The Director of Finance shall administer the self-insurance fund, which shall include investment of the fund. Investment income of the fund shall accrue to the self-insurance fund. VII. Policy and Procedural Guidelines; The Risk Manager, with the guidance and approval of the risk management committee, shall develop policies and operating procedures for the following: 1. Transfer of Risk: a. Wherever possible and financially prudent, risk shall be transferred to insurance companies consistent with the risk management policy. b. A consistent policy shall be developed to transfer risk contractually, through the use of hold harmless and indemnity clauses and requirements for contractors to name the County as an additional insured on the contractor's insurance policies and/or obtaining a waiver of subrogation on contractors' workers' compensation insurance policies. EFFECTIVE DATE: REVISION NO.: 1 PAGE OF SECTION-CODE-APPENOIX 6 8