Self insurance Applicants who maintain, at all times, a book value in excess of Twenty Million Dollars ($20,000,000) may submit a statement requesting to self-insure. The purpose of the statement is to assure the city that self-insurance will provide the city with no less protection than would have been afforded by a third party insurer providing the types and amounts of coverage described above. A statement requesting to self-insure should include the following:

• i.
  Audited financial statements for the previous year (if requested by the city);
• ii.
  A description of the Applicant's self-insurance program; and
• iii.
  A listing of all actions against, or claims made against, the applicant for amounts over One Million Dollars ($1,000,000) or proof of available excess umbrella liability coverage to satisfy all total current claim amounts above Twenty Million Dollars ($20,000,000).

Submitting a request to self-insure does not guarantee approval.