Wyo. Code R. 006-0009-2 – Insurance Procurement and Actuarial Study

Administration & Information, Dept. of Risk Management

Effective Date: 10/03/2008 to Current

Rule Type: Current Rules & Regulations

Reference Number: 006.0009.2.10032008

CHAPTER 2 INSURANCE PROCUREMENT AND ACTUARIAL STUDY

Section 1. Insurance Procurement.

(a) State agencies shall not purchase insurance except for notary bonds. (b) All insurance is purchased by the Office on a competitive bid basis every four (4) years. (c) Summaries of insurance coverage and letters certifying coverage are available from the Office.

Section 2. Property Coverage.

(a) Property schedules shall be updated in January and August of each year by the Office with information provided by individual agencies and also by site visits by the Office. (b) Each state agency shall provide, and keep current, a point of contact for property information to the Office. (c) Any time an agency adds or deletes property, the Office shall be notified in writing within ten (10) days.

Section 3. Actuarial Study. The Office will have an actuarial study completed once every two years. The study will be distributed to the state auditor, attorney general and the budget officer for the Office.