The commissioner of administration shall submit to the governor, the attorney general, and the legislature annually a formal report on the state’s risk management program which shall include:

(1)  Current data on premiums and incurred losses for each line of commercially insured and self-insured coverage.

(2)  A current financial statement detailing the assets and liabilities for each separate account held in the state self-insurance fund.

(3)  Data on all administrative costs associated with the state’s risk management program by type and line of coverage.

(4)  Data on loss experience to include type, severity, and frequency of losses in the aggregate and for each state department.

(5)  A record of all claims paid under self-insurance programs.

(6)(a)  Data comparison of self-insurance programs in other states, including data as to loss experience, payment of claims, and operating expenses for these programs.

(b)  Differences in program structure of the self-insurance programs in other states with recommendations as may be necessary to become more efficient and cost effective.

(c)  Any additional information or comparisons which will assist in determining the efficiency and potential for savings of a self-insurance program as compared to commercial insurance or other alternatives for providing liability coverage.  Data comparisons with similarly structured state self-insurance programs, including data such as losses and expenses, and any resulting recommendations for the state self-insured program.

(7)  Data on all settlements, compromises, judgments, and post-judgment settlements which shall include the amounts claimed and the amounts paid with cumulative totals for each type of damage claim.

Added by Acts 1980, No. 520, §1, eff. July 1, 1980; Acts 1992, No. 385, §1; Acts 1993, No. 588, §1; Acts 2004, No. 160, §1, eff. July 1, 2004.