Sec. 4. In the administration and provision for malpractice liability insurance by the authority, the risk manager shall do the following:
(1) Obey all Indiana statutes and rules that apply to insurance described in IC 27-1-5-1, Class 2(h).
(2) Prepare and file appropriate forms with the department of insurance.
(3) Prepare and file premium rates with the department of insurance.
(4) Perform the underwriting function.
(5) Dispose of all claims and litigations arising out of insurance policies.
(6) Maintain adequate books and records.
(7) File an annual financial statement regarding its operations under this chapter with the department of insurance on forms prescribed by the commissioner.
(8) Obtain private reinsurance for the authority, if necessary.
(9) Prepare and file for approval of the commissioner a schedule of agent's compensation.
(10) Prepare and file a plan of operations with the commissioner for approval.