Alabaster awarded for risk management

Alabaster earned a Silver Risk Management Award during a recent League of Municipalities convention. (File)

Alabaster earned a Silver Risk Management Award during a recent League of Municipalities convention. (File)

FROM STAFF REPORTS

The city of Alabaster was awarded the Silver Risk Management Award at the 2014 Annual Convention of the Alabama League of Municipalities in Mobile on Monday, May 5.

Approximately 740 public entities participate in one or both of the Alabama League of Municipalities-sponsored insurance programs, which are the Municipal Workers Compensation Fund and the Alabama Municipal Insurance Corporation.

The Board of Directors of both insurance programs approved the establishment of a Risk Management Award system in 2002. The award system recognizes those members who have instituted risk management and loss control activities in an effort to reduce their loss ratio.

Risk Management and loss control activities not only benefit the member’s loss ration, but also the overall success of the League-sponsored insurance programs.

Through the efforts of the city of Alabaster, employee, property and liability losses are being minimized; and employees and citizens are reaping the rewards of a safer workplace and community.

Recipients of the President’s Risk Management Award, which included the top 5% of those members with minimal losses for a five year period, received a specially designed memento.

Three additional levels of achievement – Gold, Silver and Bronze – were also recognized. Recipients in these categories receive a plaque for the first year they are acknowledged and then a plate to be attached to the plaque for subsequent years. The Gold, Silver and Bronze levels were for loss ratios of below 5 percent; 5 percent to 20 percent; and 20 percent to 40 percent, respectively.