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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) cash reserves and dedicated funding;
(2) loss history;
(3) individual loss retention;
(4) excess property coverage;
(5) age and condition of facilities;
(6) the current undepreciated replacement cost of the facilities; and
(7) risk management or loss prevention programs conducted by the municipality or school district.
History: Eff. 8/31/90, Register 115; am 4/17/98, Register 146
Authority: AS 14.03.150
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Last modified 7/05/2006