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Home : About us : Divisions and programs : Special Funds Division
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Special Funds Division
The Special Funds Division administers several state funds on behalf of the Insurance Department. These Funds include:
- The State Fire and Tornado Fund insures buildings and contents belonging to state agencies and political subdivisions. The Fund provides low-cost insurance on over 9,100 public buildings throughout the state. The largest are state universities and the smallest are townships. The Fund's coverage in force is approximately $9.7 billion, and the annual premium is approximately $3.4 million.
- The State Bonding Fund provides a blanket fidelity bond for state agencies and political subdivisions providing coverage in the event of an employee theft of property or money.
- The Petroleum Tank Release Compensation Fund. The federal government requires all owners of underground petroleum tanks prove their financial ability to clean up petroleum contamination resulting from a leak. This Fund was created to help pay for cleaning up spills.
- The Boiler Inspection Program provides mechanical inspection of boilers and pressure vessels and their components. Inspections are conducted on a recurring basis to safeguard the lives of those exposed to vessels under pressure; to protect persons and property generally; and to place, by reasonable regulation, responsibility for compliance with the owner and users.
If you have questions regarding this division, please contact:
Jeff Bitz
jbitz@nd.gov
Division Director
701.328.9600
701.328.9610 fax
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