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<br />9. RISK MANAGEMENT <br /> <br />The Authority is exposed to various risks of loss related to torts; theft of, damage to and <br />destruction of assets; errors and omissions; and natural disasters for which the Authority <br />participates (through an endorsement on the City of La Porte's contract) along with other entities <br />in the Texas Municipal League's Intergovernmental Risk Pool. The pool purchases commercial <br />insurance at group rates for participants in the pool. Neither the Authority nor the City had <br />significantly reduced insurance coverage or had settlements that exceeded coverage amounts for <br />the past three fiscal years. <br /> <br />10. ECONOMIC DEPENDENCY <br /> <br />The Authority receives all of its support from three municipalities, with the City of La Porte <br />being the largest contributor at approximately 86%. In addition, the Authority contracts with the <br />City of La Porte to provide administrative oversight and operate the Authority's transmissions <br />system. <br /> <br />15 <br />