Office manages North Dakota’s fire and tornado insurance fund

The Office of Management and Budget manages the state fire and tornado fund. The fund insures state agencies, political subdivisions, the International Peace Garden, and the winter show against covered building, contents, and related income losses. The office may use information from the state fire marshal program and may contract with another entity for help managing the fund. A service contract must last two years and end June 30 of an odd-numbered year. A party that does not expect to renew must give notice by September 30 of the even-numbered year during the contract.

Money in the fund is continuously available to the Office of Management and Budget for specified expenses. The money comes from the state fire and tornado fund. The money may pay claims and loss adjustment expenses, service contracts, inspections, and reinsurance. The appropriation is continuing; the text gives no end date.

Legislative Management must consider whether to study removing political subdivisions from the fund. The study concerns political subdivisions insured through the state fire and tornado fund. If undertaken, the study is to be done with the Office of Management and Budget director and the North Dakota Insurance Reserve Fund. It must examine needed legal changes and possible effects on premiums. The study is for the 2025–26 interim. Findings, recommendations, and any proposed legislation are due to the seventieth legislative assembly.