The Board shall maintain a comprehensive insurance program that will provide adequate coverage against major types of risk, loss, or damage, as well as legal liability and dishonesty. Insurance will only be purchased through legally licensed Iowa insurance agents.
The comprehensive insurance program shall be reviewed at least once every three (3) years.
A private appraisal agency may be retained upon the recommendation of the Superintendent of schools for inventory and appraisal value services, to enable the board to maintain a comprehensive insurance program.
An itemized statement of the appraised value of all buildings owned by the school corporation shall be maintained and shall be updated at least once every five (5) years.
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.
*Reviewed: 05/13/02
*Reviewed: 12/11/06
*Reviewed: 04/12/10
*Revised: 12/13/10
*Reviewed: 06/08/15
*Reviewed: 09/09/19