§ 12-6. Administration of Fund.

(a) By Office of Risk Management.

The Self-Insurance Fund shall be administered by the Office of Risk Management in the Department of Finance, headed by the Risk Management Officer who shall be appointed by the Director of Finance under the provisions of the City Charter relating to the classified civil service.

(b) Standards.

The Fund shall be administered in accord with all applicable laws, standard insurance industry practice, accepted accounting principles, and such requirements as the Board of Estimates may establish.

(c) Risks to be covered; insurance.

(1) The Risk Management Officer shall recommend to the Board of Estimates the types and extent of risks to be covered by the Fund and any insurance or excess insurance deemed advisable, and the Board shall determine what risks are to be covered and the amount of any insurance to be obtained.

(2) Pursuant to Article V, § 3 of the City Charter, the Comptroller shall obtain insurance approved by the Board of Estimates.