(1) The Tort Claims Board shall be charged with the responsibility to regulate all liability coverage of governmental entities required to have certificates of coverage under this chapter which elect to provide the same through a public entity group or individual self-insurance program. This regulation shall be accomplished through an initial approval as provided in Section 11-46-17 and by ongoing or annual review. Each self-insurance program shall annually submit to the Tort Claims Board the following items within ninety (90) days from the end of the group year:(a) An audited financial statement;(b) An actuarial valuation;(c) Contracts with third-party administrators (if any);(d) Excess insurance policies;(e) A list of members and premiums due from and collected from each member; and(f) Other data as may be required by the Tort Claims Board.
(a) An audited financial statement;
(b) An actuarial valuation;
(c) Contracts with third-party administrators (if any);
(d) Excess insurance policies;
(e) A list of members and premiums due from and collected from each member; and
(f) Other data as may be required by the Tort Claims Board.
(2) Areas of regulation under this section shall include, but not be limited to, the following:(a) Financial solvency;(b) Rating plans, rates and rating basis;(c) Assessment plans of public entity groups;(d) Coverages offered and excluded;(e) Deductibles and deductible credits;(f) Proper purchase of excess insurance or reinsurance; and(g) Review of losses, reserves and expenses annually.
(a) Financial solvency;
(b) Rating plans, rates and rating basis;
(c) Assessment plans of public entity groups;
(d) Coverages offered and excluded;
(e) Deductibles and deductible credits;
(f) Proper purchase of excess insurance or reinsurance; and
(g) Review of losses, reserves and expenses annually.
(3) Individual self-insurers and group public entity self-insurers must provide the data requested for the purposes of this section in order to receive continuing approval of the Tort Claims Board and issuance of annual certificates of coverage to the governmental entities involved.
(4) The Tort Claims Board is authorized to assess and charge appropriate fees for the costs of regulation, as determined by the board, to the individual self-insurers and group public entity self-insurers being regulated.
(5) The Tort Claims Board is empowered to:(a) Issue cease and desist orders;(b) Require rate increases or decreases;(c) Require assessments of members of group public entity self-insurers in such amounts as are authorized and required by the board;(d) Require changes in excess insurance or reinsurance; or(e) Take such other actions as deemed necessary by the board to carry out the provisions of this chapter.
(a) Issue cease and desist orders;
(b) Require rate increases or decreases;
(c) Require assessments of members of group public entity self-insurers in such amounts as are authorized and required by the board;
(d) Require changes in excess insurance or reinsurance; or
(e) Take such other actions as deemed necessary by the board to carry out the provisions of this chapter.
(6) (a) The Tort Claims Board shall create a publicly accessible online registry by July 1, 2026, that lists all governmental entities that are required to have certificates of coverage under this chapter with the name, email address and mailing address of the Chief Executive Office of the governmental entity. If the information listed on the registry required by this section is not correct at the time the notice of claim described in Section 11-46-11 is served, the one-year statute of limitations provided in Section 11-46-11 shall be tolled until the correct information is listed for the governmental entity as required by this section and the court shall not dismiss a complaint for listing such incorrect information when the complaint is otherwise properly filed.(b) Each governmental entity that is required to have certificates of coverage under this chapter shall have a duty to provide the current name, email address and mailing address of the Chief Executive Office of the governmental entity to the Tort Claims Board. If the information provided to the registry is not correct at the time the notice of claim described in Section 11-46-11 is served, the one-year statute of limitations provided in Section 11-46-11 shall be tolled until the correct information is listed for the governmental entity as required by this section and the court shall not dismiss a complaint for listing such incorrect information when the complaint is otherwise properly filed.
(a) The Tort Claims Board shall create a publicly accessible online registry by July 1, 2026, that lists all governmental entities that are required to have certificates of coverage under this chapter with the name, email address and mailing address of the Chief Executive Office of the governmental entity. If the information listed on the registry required by this section is not correct at the time the notice of claim described in Section 11-46-11 is served, the one-year statute of limitations provided in Section 11-46-11 shall be tolled until the correct information is listed for the governmental entity as required by this section and the court shall not dismiss a complaint for listing such incorrect information when the complaint is otherwise properly filed.
(b) Each governmental entity that is required to have certificates of coverage under this chapter shall have a duty to provide the current name, email address and mailing address of the Chief Executive Office of the governmental entity to the Tort Claims Board. If the information provided to the registry is not correct at the time the notice of claim described in Section 11-46-11 is served, the one-year statute of limitations provided in Section 11-46-11 shall be tolled until the correct information is listed for the governmental entity as required by this section and the court shall not dismiss a complaint for listing such incorrect information when the complaint is otherwise properly filed.