Insurance

The Department may insure against loss of revenue of the system from any cause whatsoever. The Department may insure against public liability or property damage from any cause. An indenture, lease or other instrument may provide for the carrying of such insurance or any other insurance in such amount and of such character as shall be specified in such indenture, lease, or other instrument for the payment of the premiums thereon and for the disposition of all proceeds received from any such insurance. At the option of the Director, subject to the requirements of any indenture, lease, or other instrument, any insurance may be provided by funded reserves or any other means.