H.B. 416 Summary

• Amends sections 149.431 and 3345.202 and enacts section 3345.203 to authorize Ohio state universities and colleges to establish and participate in joint self-insurance pools.

• Allows boards of trustees to create written agreements establishing joint self-insurance pools with other state universities and colleges to cover claims expenses and indemnify employees for acts or omissions within their employment scope.

• Requires joint self-insurance pools to maintain reserves based on sound actuarial judgment, file annual reports certified by property and casualty actuaries, and disclose all terms and conditions to participating institutions.

• Permits pools to contract with a pool administrator without competitive bidding and to cover multiple liability and property risks including general liability, vehicle liability, aircraft liability, property damage, and environmental impairment.

• Provides that joint self-insurance pools operate as separate legal entities exempt from state and local taxes, with claims determined in the court of claims and pool administrators receiving sovereign immunity protections.