DE HB291

Reorganizes the Insurance Coverage Office under the Director of the Office of Management and Budget instead of the Insurance Commissioner, with the Director of OMB chairing the Insurance Coverage Determination Committee.

Replaces the position of "Director of Insurance Coverage" with "Insurance Coverage Administrator" who serves in the state classified service rather than at the pleasure of the Insurance Commissioner.

Removes requirement for the Administrator to file a $50,000 bond and eliminates a specific $10,000 minimum salary provision, allowing salary to be determined through standard state classified service procedures.

Repeals §6531, §6535, and §6536 relating to fund capitalization at $2,000,000, administration, and investment of the State Self-Insurance Fund, replacing the established capitalization structure with annual appropriations based on anticipated claims and expenses.

Changes the payment process for commercial insurance premiums and self-insurance fund appropriations to require submission to the Director of OMB rather than the Insurance Commissioner, with funds appropriated as contingency budgets by the General Assembly.