(1) The Division of State Risk and Insurance Services shall: (a) Oversee and assist the management of the Commonwealth's pro perty and casualty insurance fund established in KRS Chapter 56; (b) Develop and manage programs of risk assessment and insurance for the protection of state property not covered by the Commonwealth's property and casualty insurance fund; (c) Advise the se cretary of the Finance and Administration Cabinet on the fiscal management of programs relating to life insurance, workers' compensation, and health care benefits for state employees; (d) Serve as the central clearinghouse for coordinating and evaluating e xisting and new risk management programs within all state agencies; (e) Develop financing techniques for risk protection; (f) Provide insurance for all state -owned and state -operated facilities and vehicles; and (g) Develop and implement other risk managem ent, insurance, and self-insurance programs or other functions and duties as the secretary of the Finance and Administration Cabinet may direct the division to undertake and implement within the general statutory authority and control of the Finance and Administration Cabinet over state property and fiscal affairs of the executive branch of state government, including, but not limited to, those areas pertaining to tort and contractual liability, fidelity, and property risks. (2) Nothing in this section shall be construed or interpreted as affecting the operation of the employee benefit programs generally administered by the Office of Employee Relations and Department of Employee Insurance within the Personnel Cabinet. These agencies shall coordinate the oper ation of life insurance, workers' compensation, health care benefit programs, and other self -insured programs with the Division of State Risk and Insurance Services. (3) All cabinets, departments, boards, commissions, and other state agencies shall provide to the Division of State Risk and Insurance Services the technical advice and other assistance the Division of State Risk and Insurance Services or the secretary of the Finance and Administration Cabinet shall request in the performance of the functions of the division as described in this section. (4) (a) The secretary of the Finance and Administration Cabinet shall have the power and authority to promulgate administrative regulations pursuant to KRS Chapter 13A for purposes of implementing a risk management program for the executive branch of state government. (b) Any administrative regulations promulgated by the secretary shall be administered by the Division of State Risk and Insurance Services.
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