(a) At the direction of the Arkansas Cyber Response Board, the Insurance Commissioner shall receive and disburse funds necessary for the establishment and operation of the Arkansas Self-Funded Cyber Response Program.
(b) The State Risk Manager shall assist in the operations of the program and shall submit to the board recommendations for:(1) (A) Premium schedules for all participating governmental entities, not to exceed a total of nine hundred thousand dollars ($900,000) in each of the first two (2) years of operation.(B) The premium schedule for each participating governmental entity for the first two (2) years of operation shall be as follows:(i) The aggregate amount for municipalities shall not exceed three hundred thousand dollars ($300,000);(ii) The aggregate amount for counties shall not exceed three hundred thousand dollars ($300,000); and(iii) The aggregate amount for school districts shall not exceed three hundred thousand dollars ($300,000);(2) Schedules for deductible amounts;(3) Loss histories, loss reporting, and loss payment procedures;(4) Program enrollments;(5) Annual review of funds, income, balances, and expenditures; and(6) Other information required by the board for efficient operation of the program.
(1) (A) Premium schedules for all participating governmental entities, not to exceed a total of nine hundred thousand dollars ($900,000) in each of the first two (2) years of operation.(B) The premium schedule for each participating governmental entity for the first two (2) years of operation shall be as follows:(i) The aggregate amount for municipalities shall not exceed three hundred thousand dollars ($300,000);(ii) The aggregate amount for counties shall not exceed three hundred thousand dollars ($300,000); and(iii) The aggregate amount for school districts shall not exceed three hundred thousand dollars ($300,000);
(A) Premium schedules for all participating governmental entities, not to exceed a total of nine hundred thousand dollars ($900,000) in each of the first two (2) years of operation.
(B) The premium schedule for each participating governmental entity for the first two (2) years of operation shall be as follows:(i) The aggregate amount for municipalities shall not exceed three hundred thousand dollars ($300,000);(ii) The aggregate amount for counties shall not exceed three hundred thousand dollars ($300,000); and(iii) The aggregate amount for school districts shall not exceed three hundred thousand dollars ($300,000);
(i) The aggregate amount for municipalities shall not exceed three hundred thousand dollars ($300,000);
(ii) The aggregate amount for counties shall not exceed three hundred thousand dollars ($300,000); and
(iii) The aggregate amount for school districts shall not exceed three hundred thousand dollars ($300,000);
(2) Schedules for deductible amounts;
(3) Loss histories, loss reporting, and loss payment procedures;
(4) Program enrollments;
(5) Annual review of funds, income, balances, and expenditures; and
(6) Other information required by the board for efficient operation of the program.
(c) The board may utilize up to five percent (5%) of the monthly premiums remitted to the Arkansas Self-Funded Cyber Response Program Trust Fund for administrative expenses and staff.
(d) Additional money may be provided to the program through grants and provisions from public and private entities.