Gov. Dunleavy signs State Insurance Catastrophe Reserve Account bill

    Juneau, Alaska (KINY) - This week, Gov. Mike Dunleavy signed into law legislation to align the State Insurance Catastrophe Reserve Account with the state’s need by cutting excess insurance.

    According to a press release, House Bill 102, introduced by Gov. Dunleavy and approved by the Legislature, will save the state $3 million in FY23 and up to $6 million annually within four years.

    “A goal of my administration has been to find government efficiencies while providing Alaskans with a continuity of service. This bill is a simple fix that will save our state millions of dollars annually,” said Gov. Dunleavy. “I thank the Legislature for taking action on my legislation to reign in excess spending toward the State Insurance Catastrophe Reserve Account.”

    The State Insurance Catastrophe Reserve Account Reserve was established in 1987 to obtain insurance, establish a self-insurance reserve, and to satisfy ongoing claims and judgements.

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