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URBAN RENEWAL AGENCY OF THE CITY OF EUGENE, OREGON <br />Notes to Basic Financial Statements <br />(4) Detailed Notes on All Funds, continued <br />(C) Capital Assets <br />(5) Other Information <br /> (A) Risk Management <br />The Agency is a participant in the City’s Risk and Benefits Internal Service Fund which accounts for and <br />finances its risks of loss. The Risk and Benefits Fund has a self-insured liability program which covers <br />personal injury, public official errors and omissions, automobile, and employer’s liability, with a maximum <br />self-insured retention of $500,000 per occurrence. In addition, the Risk and Benefits Fund has a self- <br />insured workers’ compensation program which covers employees’ work related illnesses and injuries, <br />including employer’s liability, with a maximum self-insured retention of $500,000 per occurrence. <br />The Agency, as a participant in the Risk and Benefits Fund, retains a portion of the risk of loss for general <br />liability. Coverage for workers’ compensation, general liability, and employees’ medical claims in excess <br />of the self-insurance retention limit is purchased from commercial insurers. The Risk and Benefits Fund <br />also purchases all risk property insurance coverage from a commercial insurer. The property insurance <br />policy has a basic $25,000 deductible, however, earthquake and flood insurance coverage were subject <br />to $250,000 deductible per occurrence. During the previous three fiscal years, there were no general <br />liability claims that exceeded the insurance coverage levels. <br />continued <br /> <br />