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Code No.  709






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 for the replacement values, when possible, after reviewing the costs and availability of such insurance.  The comprehensive insurance program shall be reviewed once every three years.


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 would 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 appraisal agency for inventory and appraisal value services.  An itemized statement of the appraised value of school district facilities shall be kept.  This statement shall be updated at least once every five years.


Insurance will only be purchased through legally licensed Iowa insurance agents with preference given to brokers maintaining offices in the community when possible.


Administration of the insurance program shall be the responsibility of the superintendent.  The board secretary shall also be responsible for placing insurance coverage, maintaining property appraisals and inventories, processing claims, maintaining loss records, and supervising loss prevention activities.


It shall be the responsibility of the superintendent to recommend, when necessary, the use of a private appraisal agency and to make recommendations to the board for the purchase of insurance coverage.



Legal Reference: Iowa Code §§ 20.9; 85.2; 279.12, .28; 285.5(6), .10(6); 296.7; 517A.1; 670.7 (1993).

                                1974 Op. Att'y Gen. 171.

                                1972 Op. Att'y Gen. 676.



Cross Reference:    205    Board Member Liability







Approved              8/23/94                  Reviewed              01/19/98; 12/10/01; 11/13/06; 11/09/11; 11/08/16                                Revised