To record the payments of authorized insurance premiums not requiring approval from the Attorney General's Office and/or the State Board of Insurance. This code requires legal descriptive text and pre-payment audit approval by the State Office of Risk Management. This code may be used without pre-payment audit approval by higher education health facilities to pay employee malpractice insurance premiums.

Expenditure code 7204 includes, but is NOT limited to:

• Automobile (insurance premiums)
• Insurance Deductibles
• Insurance Premiums (malpractice)

Generally, state law limits the types of insurance state agencies may purchase and under what conditions.

This code does NOT include:

• Insurance requiring approval by the Attorney General and Department of Insurance (7216)
• Judiciary insurance (7622)
• Car rental insurance for travel (7101)
• Collision damage waiver for employee move (7071)
• Payment made by certain state agencies exempt from State Office of Risk Management approval by state statute (7244)