The department shall develop and submit an annual report to the legislature which is informative as to:

1. (a) The amount and value of the property insured;
2. (b) the costs of such insurance;
3. (c) losses incurred by state agencies segregated between insured and noninsured;
4. (d) recommendations for changes in the property insurance program to enhance its value; and
5. (e) such other information as the department of administration deems appropriate.

L. 1992, ch. 276, § 5; July 1.