§ 2-1742. Implementation and maintenance of policy.

The risk management policy shall be implemented and maintained through the application of the risk management process, which includes but is not limited to a systematic and continuous effort to:

(1)

Identify exposures to fortuitous or accidental loss.

(2)

Analyze and evaluate those exposures in terms of probable frequency and severity.

(3)

Measure incurred losses against appropriate loss ratio standards.

(4)

Develop and implement the most appropriate combination of risk control and risk financing techniques, consistent with the primary objectives and activities of the operating units of the city, thereby reducing and controlling the adverse human and financial consequences of risk.

(5)

Monitor the effectiveness of the program, adjusting as deemed appropriate and necessary to attain the risk management objectives.

(Code 1977, § 7-3042)