It is the policy of the state for the management of risks to which it is exposed to apply the following principles consistently in a state program of risk management: (1) To identify those liability and property risks which may have a significant economic impact on the state; (2) To evaluate risk in terms of the state's ability to fund potential loss rather than the ability of an individual agency to fund potential loss; (3) To eliminate or improve conditions and practices which contribute to loss whenever practical; (4) To assume risks to the maximum extent practical; (5) To provide flexibility within the state program to meet the unique requirements of any state agency for insurance coverage or service; (6) To purchase commercial insurance: (a) When the size and nature of the potential loss make it in the best interest of the state to purchase commercial insurance; or (b) When the fiduciary of encumbered property insists on commercial insurance; or (c) When the interest protected is not a state interest and an insurance company is desirable as an intermediary; or (d) When services provided by an insurance company are considered necessary; or (e) When services or coverages provided by an insurance company are cost-effective; or (f) When otherwise required by statute; and (7) To develop plans for the management and protection of the revenues and assets of the state. [ 1985 c 188 s 2; 1977 ex.s. c 270 s 1. Formerly RCW 43.41.280, 43.19.19361.]
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