812.  PROPERTY INSURANCE

1.        Purpose

The Board recognizes its responsibility under law to insure the real and personal property of this District.

2.        Authority

        SC 774

The Board has the authority and responsibility to provide adequate insurance coverage to protect the District's interests in its buildings and properties. Such coverage shall insure for actual cost value and/or replacement cost.

In placing insurance, the Board shall be guided by the service of an insurance agent, scope of coverage provided, price of desired coverage and the assurance of coverage.

The Board shall appoint an insurance advisor, who may be the agent of record.

School Code

774