806.1 Insurance Program

Series 800 - Business Procedures
Insurance Program Code No. 806.1
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 not generally be purchased to cover loss exposures below $1,000 unless such insurance is required by statute or contract.
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 board secretary/business manager.  The board secretary/business manager shall be responsible for maintaining the fixed assets management system, processing claims and maintaining loss records.
Adoption: 4-9-79
Review: 3-14-94  7-12-99  10-11-10  4-11-16
Revision: 10-12-06
Cross References:  Code 206.5 Board Member Insurance
Legal Reference: 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.

806.2 Periodic Review of Insurance Program

Series 800 - Business Procedures
Periodic Review of Insurance Program Code No. 806.2
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 schools--after consultation with the agent of record and any other individuals or organizations--shall make recommendations for the district's insurance coverage.
Review: 7-17-89   3-14-94  7-12-99   10-11-10  4-11-16
Cross References: Code  806.1
Legal References: 

806.3 Bonds for Officers and Employees

Series 800 - Business Procedures
Bonds for Officers and Employees                      Code No. 806.3
The Secretary and Treasurer of the Board of Directors shall each give bond to the School District in such amount as required by statute.
All other employees shall be covered by a blanket bond. 
Adoption: 4-9-79
Review: 3-14-94    7-12-99   5-11-06    10-11-10  4-11-16
Revision: 10-12-06
Cross References:
Legal References:   291.2; 291.3