Russellville Electric Board receives risk management award
The Russellville Electric Board recently received a Gold Risk Management Award from the insurance divisions of the Alabama League of Municipalities.
Approximately 800 public entities participate in one or both of the Alabama League of Municipalities (ALM) sponsored insurance programs which are the Municipal Workers Compensation Fund (MWCF) and the Alabama Municipal Insurance Corporation (AMIC). 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 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.
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. The Gold, Silver and Bronze levels were for loss ratios of below 5%; 5% to 20 %; and 20% to 40%, respectively.
Based in Montgomery, the Alabama League of Municipalities was organized in 1935 and serves 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; offers specialized training for both municipal officials and employees; holds conferences and meetings at which views and experiences of officials may be exchanged; and conducts continuing studies of the legislative, administrative and operational needs, problems and functions of Alabama’s municipal governments.