CHAPTER III

POWERS AND DUTIES OF RISK MANAGER

  Section 1. Powers and Duties. Except as otherwise provided in this act, this risk manager shall:

  (a) Administer the local government insurance account;

  (b) Implement and administer a loss prevention program for participating local governments for the purpose of reducing risks, accidents and losses;

  (c) Administer, supervise and manage the investigation and adjustment of claims covered by this act;

  (d) Provide legal services for the defense of claims covered by this act through private attorneys approved by the attorney general;

  (e) Approve and supervise persons who may contract to provide services;

  (f) Procure insurance, including reinsurance, consistent with market availability;

  (g) Purchase loss prevention, actuarial and other professional services as required;

  (h) Provide evidence of insurance under this act by issuance of a certificate or policy to each participating local government;

  (i) Establish deductibles or retentions as deemed necessary for the efficient operation of the account; and

  (j) Adopt rules governing the administration of the local government insurance account and loss prevention program.

  Section 2. Establishment of Assessments. Establish assessments as necessary to operate the account on an actuarially sound basis. Assessments shall be computed to provide for:

  (a) Expenditures authorized under W.S. 1-42-103(c) and (d);

  (b) Stabilization charges to develop adequate reserves, and

  (c) Repayment of interfund transfers authorized by W.S. 1-42-104(a)

  (d) Apportion and collect assessments from each participating local government which, to the extent possible, shall be in accordance with actuarially sound principles based upon risk and loss experi- ence in the State of Wyoming and, if necessary, in states contiguous thereto,