Maryland State Finance and Procurement Section 9-103

      (a)      There is a State Insurance Program for providing and administering purchased insurance and self-insurance for the State, including:

            (1)      insurance on State property;

            (2)      insurance that federal law requires;

            (3)      insurance trust agreements; and

            (4)      insurance against other risk or commitment of the State.

      (b)      (1)      There is a State Insurance Trust Fund.

            (2)      The Fund consists of:

                  (i)      each General Fund and special fund appropriation in the State budget to the Treasurer or a unit of the State government for self-insurance;

                  (ii)      each General Fund and special fund appropriation to the State Insurance Trust Fund for payment under Title 12, Subtitle 5 of the State Government Article;

                  (iii)      each premium that a unit of the State government pays for protection under the Fund;

                  (iv)      each payment for a loss under purchased insurance; and

                  (v)      each payment from salvage or other recovery that results from a loss paid through the Program.

            (3)      The General Assembly intends that the State budget include sufficient General Fund appropriations to provide in the State Insurance Trust Fund a reserve that the Treasurer considers adequate to cover losses under § 9-105 of this title.