Sec. 128.408. - Insurance claims, settlements and proceeds.

(a) The Division shall be authorized to make and settle Claims on behalf of all departments, divisions, agencies, boards, commissions, offices and organizational units of the City (and to the extent they are included, any Participating Independent Agency) that are covered under a policy from the Miscellaneous Insurance Program, subject to the Division's receipt of all approvals required in Sections 112.307 and 128.313 . (b) The Division shall be authorized to receive payment of insurance proceeds from the insurance companies in settlement of Claims on behalf of all parties covered under a policy from the Miscellaneous Insurance Program. The Division shall be entitled to deduct any costs incurred in adjudicating such Claim, including deductible and self-insured retention payments, from such proceeds before forwarding such proceeds to the affected unit or units of the City (and to the extent they are included, any Participating Independent Agency) covered for the suffered loss. (Ord. 2018-380-E , § 2; Ord. 2024-45-E , § 3)