43.41.310 - Risk management -- Procurement of insurance and bonds. - Washington Statutes

Risk management — Procurement of insurance and bonds.

As a means of providing for the procurement of insurance and bonds on a volume rate basis, the director shall purchase or contract for the needs of state agencies in relation to all such insurance and bonds: PROVIDED, That authority to purchase insurance may be delegated to state agencies. Insurance in force shall be reported to the risk management division periodically under rules established by the director. Nothing contained in this section shall prohibit the use of licensed agents or brokers for the procurement and service of insurance.

     The amounts of insurance or bond coverage shall be as fixed by law, or if not fixed by law, such amounts shall be as fixed by the director.

     The premium cost for insurance acquired and bonds furnished shall be paid from appropriations or other appropriate resources available to the state agency or agencies for which procurement is made, and all vouchers drawn in payment therefor shall bear the written approval of the risk management division prior to the issuance of the warrant in payment therefor. Where deemed advisable the premium cost for insurance and bonds may be paid by the risk management administration account which shall be reimbursed by the agency or agencies for which procurement is made.

[2002 c 332 § 5; 1998 c 105 § 8; 1985 c 188 § 1; 1977 ex.s. c 270 § 6; 1975 c 40 § 9; 1965 c 8 § 43.19.1935. Prior: 1959 c 178 § 18. Formerly RCW 43.19.1935.]

Notes: Intent -- Effective date -- 2002 c 332: See notes following RCW 43.41.280.

Effective date -- 1998 c 105: See note following RCW 43.19.025.

Construction -- 1977 ex.s. c 270: See RCW 43.41.901.

Powers and duties of director of general administration as to official bonds: RCW 43.41.360.