4 AAC 31.225. Failure to procure insurance

(a) If, within 30 days after the department provides notice under AS 14.03.150 (b), a school district fails to maintain adequate insurance or a program of self-insurance required by 4 AAC 31.200, the department will procure insurance through the division of risk management in the Department of Administration, and the state's property insurance broker, from an insurance company authorized to do business in Alaska. The insurance will meet the requirements of 4 AAC 31.200(b) , with deductible amounts of not less than $10,000 nor more than $100,000.

(b) If the department purchases a policy of insurance for the benefit of a school district, it will deduct from the entitlement of the school district under AS 14.17.021 the amount of the premiums and any commissions or charges from the state's insurance broker.

History: Eff. 8/31/90, Register 115

Authority: AS 14.03.150

AS 14.07.060

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