AP 530 - Insurance Management
The division shall keep in force a policy of insurance as required by the School Act.
- The Secretary Treasurer will arrange for insurance coverage as required by the School Act.
- The insurance coverage will be reviewed on an annual basis in June and as needed during the year, when circumstances change that directly affect the insurance policy (i.e additions/deletions to buildings or modernization, vehicle sales and purchases, increased/decreased enrollments for the IAP Blanket Student Accident Plan, etc.).
- Department supervisors will review the insurance lists applicable to their areas of responsibility to ensure all insured items are included on the list and identify any sold or obsolete items to be removed.
- The Secretary Treasurer will sign off on all insurance schedules that are included in the insurance renewal package and submit the schedule by the deadline to ensure proper insurance is in place as of September 1 of each school year.
- The Secretary Treasurer will properly allocate the insurance premiums to the various departments based on where the assets are being used (i.e. vehicles, equipment, etc.) or the department that is responsible for the asset (I.E. school buildings and maintenance shop would be the Facilities Department). The Secretary Treasurer will ensure the invoice related to the premiums is pad in a timely fashion upon receipt.
School Act, Section 60
Updated: February 2017