Russellville Electric Board receives ALM Gold Risk Management Award
Russellville Electric Board was recently awarded a Gold Risk Management Award by the insurance divisions of the Alabama League of Municipalities.
According to a Russellville Electric Board spokesperson, approximately 770 public entities participate in one or both of the Alabama League of Municipalities-sponsored insurance programs: 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 ratio but also the overall success of the League-sponsored insurance programs. Through the efforts of Russellville Electric Board, employee, property and liability losses are being minimized, and – most importantly – employees and citizens are reaping the rewards of a safer workplace and community, according to the board.
Recipients of the President’s Risk Management Award, which include the top 5 percent 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; 5-20 percent; and 20-40 percent, respectively.
The Alabama League of Municipalities was organized in 1935 and has served since that time as the recognized voice of the cities and towns in Alabama.
Representing more than 450 member municipalities, the League works to secure enactment of legislation enabling all cities and towns to perform their functions more efficiently and effectively. It also offers specialized training for both municipal officials and employees; holds conferences and meetings where views and experiences of officials are exchanged; and conducts continuing studies of the legislative, administrative and operational needs, problems and functions of Alabama’s municipal governments.
For more information, visit www.alalm.org.