The school district shall maintain a comprehensive insurance program that will provide adequate coverage major types of risk, loss, or damage to the school district’s buildings, grounds or equipment, as well as legal liability. The board secretary shall review the insurance programs of the school district periodically to insure adequate coverages. The board will review the comprehensive insurance program once every three years.
The School District will purchase insurance at replacement values when possible, after reviewing the costs and availability of such insurance. Insurance will only be purchased through legally licensed Iowa insurance agents.
The school district will assume the risk of property damage, legal liability, and dishonesty in cases in which the exposure is so small or dispersed that a loss does not significantly affect the operation of the education program or financial condition of the school district. Insurance of buildings, structures, or property in the open will not generally be purchased to cover loss exposure below $5,000, unless such insurance is required by statute or contract.
Administration of the insurance program, making recommendations for additional insurance coverage, placing the insurance coverage, and loss prevention activities is the responsibility of the director of business services and/or superintendent. The director of business services is responsible for maintaining the fixed assets management system, processing claims, and maintaining loss records. However, the board may retain a private organization for fixed assets management services. The superintendent, after consultation with the agent of record and any other individuals or organizations, shall make recommendations for the school district’s insurance coverage.
- First Adoption:
- 1983-04-19
- Revision Adoption:
- June 30, 1992/ September 7, 1997/ October 11, 2009/ June 27, 2021
- Reviewed Dates:
- June 28, 1989
- Legal Reference:
-
Iowa Occupational Safety and Health Act
Iowa Workers' Compensation Act
Iowa Code Sections 279.12; 279.28; 285.5 (6);
285.10(6); 296.7; 517A.1; 670.7