The Risk Management Division (Risk) was established by Act No. 272 of 1981, to reduce the cost of insurance for State of Arkansas Offices, Boards, Commissions, Agencies, Departments, and Public Institutions of Higher Education; as well as, Arkansas Public School Districts. The mission of the Risk Management Division is to minimize the cost of property and casualty insurance and fidelity bond coverage for participating State Agency and Public School District Entities, in an efficient and cost effective manner; while also providing exceptional insurance coverage provisions and claim service. The Division provides an extensive variety of services at no additional cost to participating entities, including but not limited to: Building underwriting and appraisal services, Building loss control and claim mitigation inspection services, Advanced driver training instruction, State of Arkansas Vehicle Safety Plan, Insurance advisory and consultation services, Insurance requirements contract review assistance, Maintaining building and auto schedules, and other general insurance advisory and assistance needs.

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