of State Risk and Insurance Services provides and procures cost
effective insurance for state owned property, vehicles, mobile equipment, and liability risk exposures.
Additionally, this division provides state-wide risk management services and
procures Public Official Bonds, Commercial Liability, Sickness/Accident insurance policies, Aviation policies and
various liability policies to state agencies, universities, and Kentucky
Community and Technical College Systems. The division also provides
underwriting, appraisal services of state owned structures and utilizes a third
party claims adjuster to assist in processing your claims faster. State Risk
evaluates the various state agencies’ insurance needs and acts as the insurance
liaison between state agencies, the Finance Cabinet and the commercial insurance
The State Fire and Tornado Insurance Fund (F&T), an essential focus of the division, is a self-insured, commercial property insurance program established in 1936. The F&T provides insurance protection for all state owned buildings and business personal property (contents), pursuant to KRS 56.070. The fund provides property insurance coverage on an “all risk” basis, including losses caused by floods and earthquakes, subject to specified exclusions, for approximately 8,200 state owned structures. The current FY policy may be found under Related Information below.
The Kentucky Self-Insured Auto Program (KSAP), is a self-insured, state owned vehicle insurance program established in 2011. The KSAP staff audits and records all vehicle additions and deletions per agency, issues the annual renewal billing and collects the premium due. KSAP is responsible for insuring in excess of 13,000 vehicles.
The operation of the
F&T Fund and KSAP is comprised of three functions:
Appraisal: Performs field appraisals and annual appraisal updates for approximately 8,200 structures owned by the Commonwealth. The appraisers determine the replacement cost and actual cash values by using industry standard appraisal software with an emphasis on square footage, perimeter, construction methods and cost of materials. These values are then utilized by the underwriting staff to determine the insurance premium for all state owned structures.
Underwriting: Issues approximately 333 insurance certificates to insured state agencies, universities, and the Kentucky Community and Technical College Systems. To ensure proper insurance coverage, the underwriters counsel with state entities to determine the acquisition or surplus of buildings, business personal property (contents) and scheduled business continuation coverage, throughout the state. For the current FY, $22 billion in assets are insured, through the Fire and Tornado Fund.
Claims: Administers all property damage claims for the Commonwealth of Kentucky within the Fire and Tornado Fund (F&T) for insured properties. As part of a claim, they are also responsible for setting up the claim, investigating, assigning to a third party property claim adjuster when needed, and making settlement payments to the insured agency for covered damages. For auto claims with the Kentucky Self-Insured Auto Program (KSAP), the claims staff sets up a claim, receives photos and police reports to confirm vehicle coverage prior to sending the claim to a third party claims adjuster, who will handle the claim until settlement is determined for closure. Claim packets and claim forms are under Related Information below.
State Risk & Insurance
division offers a variety of compl
imentary training opportunities to
state agencies. These include a wide variety of insurance topics including, but
not limited to the following:
For more information,
please review the Training Request Form (CTR-1) under 'Related Information'
A General Overview of the Fire & Tornado Fund and KY Self-Insured Auto Program (includes form completion assistance).
The Property and Auto Claims Process
The KY Self-Insured Auto Program Audit Process
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(502)782-5444 or (502)229-3905
Hart, Appraisal/ Underwriting Manager