Section 1-41-105 - Powers and duties of risk manager(a) Except as otherwise provided in subsection (b) of this section, the risk manager shall: (i) Administer the self-insurance account;(ii) Implement and administer a loss prevention program for the purpose of reducing risks, accidents and losses;(iii) Administer, supervise and manage the investigation and adjustment and settlement of claims covered by this act, including subrogation and restitution claims filed on behalf of the state self-insurance account;(iv) Provide legal services for the defense of claims covered by this act through the attorney general or through private attorneys approved by the attorney general;(v) Approve and supervise persons who may contract with the state to provide services;(vi) Procure insurance, including comprehensive professional liability coverage for all peace officers, consistent with market availability;(vii) Prepare a budget based upon economically and actuarially sound principles, which will maintain a reasonable and adequate surplus to meet estimated payments for contracts, services, claims and expenses;(viii) Purchase loss prevention, actuarial and other professional services as required; and(ix) Adopt rules governing the administration of the state's self-insurance account and loss prevention program and to carry out the purposes of this act.(b) If the risk manager determines it is economically feasible he may contract with any private firm or firms to provide any administrative or other services deemed necessary under this act.