(a) The Arkansas Multi-Agency Insurance Trust Fund shall be administered by the Insurance Commissioner.
(b) At the discretion of the commissioner, the risk manager may:
(1) Enter into contracts;
(2) Purchase insurance and reinsurance in accordance with the Arkansas Procurement Law, § 19-11-201 et seq.;
(3) Adjust, settle, and pay or deny claims with notice to a claimant;
(4) Pay expenses and costs;
(5) Study the risks of all participating state agencies and their properties;
(6) Promulgate the form for insurance and reinsurance policies and other forms;
(7) Issue certificates of coverage to state agencies for any risks covered by the trust fund;
(8) Make recommendations about risk management and risk reduction strategies to participating state agencies;
(9) Review participating state agency building construction, major remodeling plans, program plans, and make recommendations to the participating state agency about needed changes to address risk considerations;
(10) Utilize underwriting discretion and authority to deny coverage of any risk deemed to adversely affect the financial stability of the trust fund;
(11) Establish values for participating state agency buildings and structures to be insured;
(12) Attend state agency planning and management meetings;
(13) Review any proposed legislation and communicate with members of the General Assembly and legislative committees about the liability or risk management issues connected with any legislation; and
(14) Solicit any needed information about state agency plans, state agency programs, or state agency risks necessary to perform the responsibilities under this chapter.
(c)
(1) The risk manager may expend moneys from the trust fund to procure and provide coverage to all participating state agencies and their indemnified employees except those agencies or employees specifically exempted by statute or elsewhere in this chapter.
(2) The risk manager shall apportion the costs of coverage under subdivision (c)(1) of this section consistent with this chapter.
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