An authorized self-insurance program is one that the department annually determines adequately protects the public's investment in a school district's facilities. In rendering its determination, the department will consider annually at least the following factors for each school district applying for approval of a self-insurance program:

1. (1) cash reserves and dedicated funding;
2. (2) loss history;
3. (3) individual loss retention;
4. (4) excess property coverage;
5. (5) age and condition of facilities;
6. (6) the current undepreciated replacement cost of the facilities; and
7. (7) risk management or loss prevention programs conducted by the municipality or school district.

(Eff. 8/31/90, Register 115; am 4/17/98, Register 146)

Authority: AS 14.03.150, AS 14.07.060