SECTION 1. The city of Cranston is hereby authorized to establish an Insurance, Claims and Risk Management Commission, and to promulgate such rules and regulations as it deems appropriate, for the operation of said Insurance, Claims and Risk Management Commission, and: to allow it to obtain and effect insurance by purchase or by self-insurance as authorized by the General Laws of the State of Rhode Island; to administer, adjust, resolve and, where necessary, to satisfy claims against the City of Cranston, its departments, officials and subsidiaries; to establish loss control, job safety, and risk reduction programs and procedures; and to coordinate reimbursement and subrogation programs for the City of Cranston. The Insurance, Claims and Risk Management Commission shall be established in furtherance of the City Council's and City Treasurer's responsibilities for claims and self insurance under the General Laws of the State of Rhode Island.

SECTION 2. This act shall take effect upon passage.