Okla. Stat. tit. 74, § 74-85.58H

liability risks - Licensed operators and employees.

A. Upon written certification by the Director of the Office of

Management and Enterprise Services that errors and omissions

liability insurance for licensed operators and their employees is

not reasonably available in the private market at competitive rates,

after taking into account the administrative costs associated with

such insurance, the Risk Management Administrator pursuant to

Section 85.58A of this title may obtain or provide limited indemnity

coverage for licensed operators and the employees who are employed

by such licensed operators for any errors and omissions liability

risks arising from the performance of their official duties pursuant

to law. Any such certification by the Director of the Office of

Management and Enterprise Services shall be effective for a period

of two (2) years. Any such limited indemnity coverage shall be

obtained or provided solely from funds available in the shared risk

pool authorized by this section and subject to the limitations set

out herein. The Risk Management Administrator shall establish

liability limits for such errors and omissions coverage on an annual

basis. Any such limits shall be based on the liquidity of the

shared risk pool resulting from the annual payments made pursuant to

subsection C of this section and any interest accrued thereon, after

deduction of such sums as may be necessary to pay all overhead and

administrative expenses associated with administering the pool.

B. The Risk Management Administrator is authorized to determine

eligibility criteria for participation in the Risk Management

Program for such licensed operators and employees of such licensed

operators. Any limited indemnity coverage provided for errors and

omissions pursuant to the provisions of this subsection shall only

cover errors or omissions made by a licensed operator or any

employee of such licensed operator occurring after July 1, 1990.

C. Except as otherwise provided in subsection G of this

section, licensed operators shall be required to make annual

payments of Forty Dollars ($40.00) per licensed operator and Forty

Dollars ($40.00) per employee of the licensed operator for such

limited indemnity coverage. The Risk Management Administrator is

Oklahoma Statutes - Title 74. State Government Page 216

authorized to assess an additional payment per year, not to exceed

Forty Dollars ($40.00) per licensed operator and per employee of

such licensed operator, if the shared risk pool resulting from the

payment of the fees made pursuant to this subsection is not adequate

to cover any liability incurred.

D. Requests for the limited indemnity coverage provided

pursuant to the provisions of this section shall be submitted in

writing to the Risk Management Administrator by the licensed

operators.

E. All fees collected in accordance with the provisions of this

section shall be deposited in the Oklahoma Licensed Operator

Indemnity Fund.

F. In providing risk management services for any licensed

operator or employee of such licensed operator, it is the intention

of the Legislature to provide limited indemnification of licensed

operators or employees of such licensed operators for errors and

omissions, solely to the extent of assets in the shared risk pool

created by this section. The State of Oklahoma is not liable,

directly or indirectly, for the errors and omissions of any licensed

operator or any employee of such licensed operator in the

performance of official duties pursuant to law. The Risk Management

Administrator shall determine the extent of indemnification for

losses incurred by any such licensed operator or employee of such

licensed operator based upon the liquidity of the shared risk pool.

G. The Risk Management Administrator is authorized to establish

a system under which the extent of indemnity coverage may be

extended or reduced based upon an increase or decrease in the amount
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Administrator shall determine the extent of indemnification for

losses incurred by any such licensed operator or employee of such

licensed operator based upon the liquidity of the shared risk pool.

G. The Risk Management Administrator is authorized to establish

a system under which the extent of indemnity coverage may be

extended or reduced based upon an increase or decrease in the amount

of the payment required in subsection C of this section. Said

system shall only be established when the liquidity of the shared

risk pool is such that the system is feasible in the judgment of the

Administrator. Upon establishment of such a system, a licensed

operator may elect to increase or decrease the amount of the payment

required in subsection C of this section and correspondingly extend

or reduce coverage for losses incurred by the licensed operator or

employee of such licensed operator.