709 - 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 is 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 not generally be purchased to cover loss exposures below $5,000.00 unless such insurance is required by statute or contract.

The board may retain a private organization for capital assets management services.

Administration of the insurance program, making recommendations for additional insurance coverage and loss prevention activities is the responsibility of the superintendent. The superintendent or the superintendent’s designee is responsible for maintaining the capital assets management system, processing claims and maintaining loss records.

 

 

Legal Reference:  Iowa Code §§ 20.9; 85.2; 279.12, .28; 285.5(6), .10(6); 296.7; 298A; 517A.1; 670.7.

I.C. Iowa Code              Description
Iowa Code § 20.9          Collective Bargaining - Scope of Negotiations
Iowa Code § 279.12      Directors - Powers and Duties - teachers-insurance-leave
Iowa Code § 285.10      Transportation Aid - Powers and Duties of Local Boards
Iowa Code § 285.5        Transportation Aid - Contracts
Iowa Code § 296.7        Indebtedness of Schools Corporations - Tax Levies
Iowa Code § 298A        School District Fund Structure
Iowa Code § 517A.1      Liability Insurance - Authority to Purchase
Iowa Code § 279.28      Insurance-Supplies-Textbooks
Iowa code § 670.7         Insurance
Iowa Code § 85.2          Public Employees - Chapter Compulsory

Cross References:  205  Board Member Liability
                                         802.04  Capital Assets
                                         802.04-R(1)  Capital Assets - Regulation
                                         802.04-R(2)  Capital Assets - Management System Definitions