It shall be the power and duty of the Insurance Commissioner to:
(1)
(A) Establish in the State Insurance Department a program of insurance to cover motor vehicles owned by public school districts, education service cooperatives, and open-enrollment public charter schools.
(B) The program shall be in accordance with recognized and established insurance practices;
(2) Establish and, from time to time, modify the premium rates to be charged for various risks;
(3) Specify the form for insurance policies and other forms required for the purposes of this subchapter;
(4) Employ or contract for necessary officials, adjusters, appraisers, attorneys, and other personnel required in the administration of this subchapter;
(5) Engage in a loss control program to assist the public schools in improving and minimizing potential loss of life and property; and
(6) Perform all additional powers and duties necessary to maintain sound insurance underwriting practices recognized by good risk management.
Structure Arkansas Code
Subtitle 2 - Elementary and Secondary Education Generally
Chapter 21 - School Property and Supplies
Subchapter 7 - School Motor Vehicle Insurance Act
§ 6-21-703. Public School Motor Vehicle Insurance Program — Participation
§ 6-21-704. Administration — Reports
§ 6-21-705. Powers and duties of Insurance Commissioner
§ 6-21-706. Information furnished by participants
§ 6-21-707. Inspection and safety program
§ 6-21-709. Payment of claims — Subrogation — Premium rate — Excess insurance
§ 6-21-710. Public School Insurance Trust Fund — Investments