State authorities, State commissions and State agencies which are authorized by statute to sue and be sued may obtain coverage for liability and representation by the Attorney General's Office for defense of liability cases under the “New Jersey Tort Claims Act,” N.J.S. 59:1-1 et seq. , for themselves and their public employees from the fund established under N.J.S. 58:12-1 1 when:
a. The governing body of the authority, commission or agency petitions the State Treasurer and the Attorney General for such coverage; and
b. The State Treasurer and the Attorney General determine that such coverage would be in the public interest and that adequate coverage is unavailable at reasonable rates.
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