8000 - Fiscal Management

8340 Insurance

The board will maintain insurance adequate to safeguard the school system’s property and assets. Each fiscal year, the finance officer shall make recommendations to the board on the amounts and types of insurance that should be obtained, such as errors and omissions, general liability, boiler & machinery, real and personal property, auto liability and workers’ compensation. Insurance premiums will be included in the budget as a necessary expense. The office of the school business administrator will maintain custody of insurance policies and insurance programs.

If the board requires school social workers to increase their private automobile liability coverage and/or to add a business use rider in order to transport students in their private vehicles, the school will reimburse the social worker for the additional premium charged and/or for the increased liability limits or the added rider

Legal References:
G.S. 115C-36, -47, -317.1, -435, -534
Cross References:
Insurance for Student Transportation Services (policy 6330), Defense of Board Employees (policy 7610)
Adopted:
Monday, 07 November 2011
Last Updated:
Monday, 12 March 2012