Business Administration AP 530: Insurance Management

Background

The Division shall maintain continuous insurance coverage in order to meet the requirements of legislation and to protect the investments and its constituents’ interests.

Procedures

1. The Associate Superintendent, Business and Finance shall review the Division’s insurance coverage annually and make recommendations to the Superintendent regarding insurance coverage.
2. The Associate Superintendent, Business and Finance shall make available to Division employees and others as requested, information describing the Division’s insurance coverage.
3. The Division will provide insurance coverage including but not limited to:
   1. Buildings,
   2. Contents,
   3. Liability – for individual trustees, staff members, student teachers and interns, and volunteers; when the foregoing are performing duties authorized by the Division,
   4. Crime,
   5. Automobile fleet,
   6. Travel accident,
   7. Student accident,
   8. Boiler and machinery,
   9. Errors and omissions, and
   10. Course of construction and wrap up
4. Building insurance shall be secured to provide coverage at full replacement cost.
5. Contents insurance:
   1. Claims made under the building and contents section of the insurance policy resulting from accidents, vandalism or theft shall be made by the Associate Superintendent, Business and Finance upon receipt of the required information from the Principal or site manager.
6. Travel accident insurance shall be obtained to cover staff members and trustees while travelling on Division business.
7. The Principal and each site manager shall, as soon as possible, open a report on the Division’s electronic incident reporting system and keep the incident updated:
   1. Accidents, regardless of the severity; 
   2. Property losses or damages; and
   3. Other