Board of Education Property
Insurance
The Board recognizes its responsibility under law to keep all insurable property of this school district, real and personal, insured for its replacement value against loss or damage by fire and has been adopted as policy the extension of that coverage to: glass breakage, explosion, boiler damage, smoke, windstorm and vandalism.
In placing the insurance coverage the Board shall be guided
by the price of such coverage, the ability of the insurer to meet prescribed
obligations promptly and fully, the reputation and past performance of the
agent of the insurer and the desirability of distribution the insurance
coverage of the district through one insurance broker only.
The agent of record shall:
a.
Review the insurance program of the district,
consider alternatives, and report recommendations to the Board.
b.
Recommend specific insurance placement and prepare
specifications for same.
c.
Assist the Board in the establishment and maintenance
of property valuation and insurance records.
d.
Process all claims.
Date Revised:
Date Adopted:
Reference: 18A:18A-42(e), 18A:20-25