INSURANCE PROGRAM
 
The board will maintain a comprehensive insurance program to provide adequate coverage against major types of risk, loss, or damage, as well as legal liability.  The board will purchase insurance at replacement values, when possible, after reviewing the costs and availability of such insurance.  The comprehensive insurance program shall be reviewed once every three years.  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 be purchased to cover loss exposures with a minimum deductible of $250. 
 
The board may retain a private organization for fixed assets management services.
 
Administration of the insurance program, making recommendations for additional insurance coverage, placing the insurance coverage and loss prevention activities shall be the responsibility of the superintendent.  The fixed assets manager shall be responsible for maintaining the fixed assets management system, processing claims and maintaining loss records.
 
 
Legal References:          Iowa Code §§ 20.9;  85.2;  279.12, .28; 285.5(6), .10(6); 296.7; 298A;
517A.1; 670.7 (1997).
1974 Op. Att'y Gen. 171
1972 Op. Att'y Gen. 676
 
 
Cross Reference:           Board Member Liability
 
 
Adopted: February 10, 1986                 
 
Reviewed:   March 8, 1999             
July 19, 2004
February  2009
February 17, 2014
 
Revised: December 8, 1997

PERIODIC REVIEW OF INSURANCE PROGRAM
 
The Board of Directors shall periodically review the insurance program of the school district to ensure adequate coverage.  Such review may be made annually, but must be made at least once every three years.
 
The superintendent of school, after consultation with the agent of record and any other individuals or organizations, shall make recommendations for the districts' insurance coverage.
 
 
Cross Reference:           806.1    Insurance Program
 
 
Adopted:  February 10, 1986     
 
Reviewed:   March 8, 1999             
July 19, 2004
February  2009   
February 17, 2014