The administrator of the division of insurance management [office of insurance management] in the department of administration shall provide a comprehensive liability plan which will cover and protect the state and its employees from claims and civil lawsuits. He shall be responsible for the acquisition and administration of all liability insurance of the state or for the use of the retained risk account provided in section 67-5776, Idaho Code, to meet the obligations of the comprehensive liability plan.
The administrator shall, after consultation with the departments, agencies, commissions, and other instrumentalities of the state, provide a comprehensive liability plan for the state providing liability coverage to the state and its employees in amounts not less than the minimum specified in section 6-924, Idaho Code. He shall have the authority to use the retained risk account provided in section 67-5776, Idaho Code, or to purchase, renew, cancel and modify all policies according to the comprehensive liability plan.