{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-85.58h","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-85.58H","heading":"Limited indemnity coverage for errors and omissions","body":"liability risks - Licensed operators and employees.\n\nA. Upon written certification by the Director of the Office of\n\nManagement and Enterprise Services that errors and omissions\n\nliability insurance for licensed operators and their employees is\n\nnot reasonably available in the private market at competitive rates,\n\nafter taking into account the administrative costs associated with\n\nsuch insurance, the Risk Management Administrator pursuant to\n\nSection 85.58A of this title may obtain or provide limited indemnity\n\ncoverage for licensed operators and the employees who are employed\n\nby such licensed operators for any errors and omissions liability\n\nrisks arising from the performance of their official duties pursuant\n\nto law. Any such certification by the Director of the Office of\n\nManagement and Enterprise Services shall be effective for a period\n\nof two (2) years. Any such limited indemnity coverage shall be\n\nobtained or provided solely from funds available in the shared risk\n\npool authorized by this section and subject to the limitations set\n\nout herein. The Risk Management Administrator shall establish\n\nliability limits for such errors and omissions coverage on an annual\n\nbasis. Any such limits shall be based on the liquidity of the\n\nshared risk pool resulting from the annual payments made pursuant to\n\nsubsection C of this section and any interest accrued thereon, after\n\ndeduction of such sums as may be necessary to pay all overhead and\n\nadministrative expenses associated with administering the pool.\n\nB. The Risk Management Administrator is authorized to determine\n\neligibility criteria for participation in the Risk Management\n\nProgram for such licensed operators and employees of such licensed\n\noperators. Any limited indemnity coverage provided for errors and\n\nomissions pursuant to the provisions of this subsection shall only\n\ncover errors or omissions made by a licensed operator or any\n\nemployee of such licensed operator occurring after July 1, 1990.\n\nC. Except as otherwise provided in subsection G of this\n\nsection, licensed operators shall be required to make annual\n\npayments of Forty Dollars ($40.00) per licensed operator and Forty\n\nDollars ($40.00) per employee of the licensed operator for such\n\nlimited indemnity coverage. The Risk Management Administrator is\n\nauthorized to assess an additional payment per year, not to exceed\n\nForty Dollars ($40.00) per licensed operator and per employee of\n\nsuch licensed operator, if the shared risk pool resulting from the\n\npayment of the fees made pursuant to this subsection is not adequate\n\nto cover any liability incurred.\n\nD. Requests for the limited indemnity coverage provided\n\npursuant to the provisions of this section shall be submitted in\n\nwriting to the Risk Management Administrator by the licensed\n\noperators.\n\nE. All fees collected in accordance with the provisions of this\n\nsection shall be deposited in the Oklahoma Licensed Operator\n\nIndemnity Fund.\n\nF. In providing risk management services for any licensed\n\noperator or employee of such licensed operator, it is the intention\n\nof the Legislature to provide limited indemnification of licensed\n\noperators or employees of such licensed operators for errors and\n\nomissions, solely to the extent of assets in the shared risk pool\n\ncreated by this section. The State of Oklahoma is not liable,\n\ndirectly or indirectly, for the errors and omissions of any licensed\n\noperator or any employee of such licensed operator in the\n\nperformance of official duties pursuant to law. The Risk Management\n\nAdministrator shall determine the extent of indemnification for\n\nlosses incurred by any such licensed operator or employee of such\n\nlicensed operator based upon the liquidity of the shared risk pool.\n\nG. The Risk Management Administrator is authorized to establish\n\na system under which the extent of indemnity coverage may be\n\nextended or reduced based upon an increase or decrease in the amount\nnt\n\nAdministrator shall determine the extent of indemnification for\n\nlosses incurred by any such licensed operator or employee of such\n\nlicensed operator based upon the liquidity of the shared risk pool.\n\nG. The Risk Management Administrator is authorized to establish\n\na system under which the extent of indemnity coverage may be\n\nextended or reduced based upon an increase or decrease in the amount\n\nof the payment required in subsection C of this section. Said\n\nsystem shall only be established when the liquidity of the shared\n\nrisk pool is such that the system is feasible in the judgment of the\n\nAdministrator. Upon establishment of such a system, a licensed\n\noperator may elect to increase or decrease the amount of the payment\n\nrequired in subsection C of this section and correspondingly extend\n\nor reduce coverage for losses incurred by the licensed operator or\n\nemployee of such licensed operator.","path":["OK Code","Title 74"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os74.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"fe3b73e38ce413f40f28d4cbb0133aed572d53e185ad26cd6576e7a8f9e01bf6","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-85.58g","next":"us-ok/okla.-stat.-tit.-74-74-85.58i"},"notice":"GroundRules: Original legal text. Not legal advice."}