Section 9-8-205 - Authority of board of claimsNotwithstanding any law to the contrary and in addition to the board of claims' authority set forth in § 9-8-108, the board of claims is authorized to:
(1) Establish the type or types of insurance and the insurance limits as excess insurance coverage necessary to carry out the purposes of this part;(2) Purchase or procure the insurance policy or policies with the fund as the insured;(3) Establish the effective date for which insurance coverage will be provided;(4) Enter into contracts with financial consultants, actuaries, auditors, investment managers, individual attorneys, law firms, and other consultants and professionals as necessary to effectuate the purposes of this part;(5) Establish the process for the administration of claims filed pursuant to this part;(6) Recommend annually to the commissioner of finance and administration the total occurrence basis funding required to satisfy the liabilities arising under this part; and(7) Promulgate rules that are necessary to carry out the purpose and intent of this part.