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 9,959 public buildings throughout the state. The largest are state universities and the smallest are townships. The Fund's coverage in force is approximately $14.7 billion, and the annual premium is approximately $5.1 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 require assistance, please contact us.
ndspecialfunds@nd.gov
North Dakota Insurance Department
Special Funds Division
600 E Boulevard Ave.
Bismarck, ND 58505-0320
(701) 328-9600
(701) 328-9610 Fax
(800) 247-0560 Toll-free
(800) 366-6888 TTY Line