SECTION 260:70-7-2. Functions of Oklahoma Risk Management Program

(a)   In order to protect the assets of the state or any other covered entity against liability loss, the Risk Management Department shall consolidate and administer:

(1)   All plans to transfer liability risks, if it is economically advantageous to do so, by acquiring commercial liability insurance, by pass-off of liability or by other means.

(2)   All plans and programs pertaining to Risk Management including liability self-insurance programs, except state employees group, health, dental and life insurance.

(3)   All plans and programs pertaining to Risk Management for consolidation of any combination of the above types of insurance or re-insurance programs or policies.

(b)   In order to protect the assets of the state against property or casualty loss, the Risk Management Department shall consolidate and administer:

(1)   All plans to transfer property or casualty risks, if it is economically advantageous to the state to do so, by acquiring property or casualty insurance, pass-off of responsibility through transfer of risk, or by other means.

(2)   All plans and programs pertaining to Risk Management including property or casualty self-insurance programs.

(3)   All plans and programs pertaining to Risk Management for consolidation of any combination of the above types of insurance or re-insurance programs or policies.

(c)   In order to take every practical measure to eliminate or prevent injury to employees, private persons, entities or others, the Risk Management Division shall consolidate and administer a continuous effective loss-prevention and loss-control program designed to:

(1)   Protect the state's assets.

(2)   Ensure a safe environment for state employees and for the public who come into contact with state employees or property.

(3)   Minimize the possible interruption of vital public services.

(4)   Safeguard that all exposures to financial loss are discovered and handled appropriately.

(5)   Reduce the costs and consequences of accidents, including insurance premiums, through effective safety management.

(d)   In order to ensure the continuity of services to the state or other covered entities:

(1)   The Risk Management Department shall protect the assets of the state or any other covered entity against liability loss by:

(A)   Insuring through either commercial liability insurance or other commercial insurance for the protection of the state and any other covered entity; and,

(B)   Administering of a self-insured retention plan for providing insurance for the state and any other covered entity against liability.

(C)   Insuring through a combination of self-insured retention and commercial insurance for the state and any other covered entity against liability.

(2)   The Risk Management Department shall protect the assets of the state against property or casualty loss by:

(A)   Insuring through either property insurance or other commercial insurance for the protection of the state against property or casualty loss.

(B)   Administering of a self-insured retention plan for providing insurance for the state against property and casualty loss.

(C)   Insuring through a combination of self-insured retention and commercial insurance for the state against property or casualty loss.

[Source: Added at 31 Ok Reg 1467, eff 9-12-14; Amended at 33 Ok Reg 774, eff 8-25-16]