The Board of Trustees recognizes the benefits to the corporation of joining with other political subdivisions in providing coverage for the insurance needs of this corporation and in participating in programs of risk management to prevent loss, reduce expenses, and to control liability.
The Board may provide insurance for:
A. Loss or damage to corporation property, real or personal.
B. Loss or damage from liability resulting from the use of corporation property.
C. Loss or damage from liability for the acts and omissions of corporation officers or employees.
D. Loss or damage from liability established by the workers' compensation statutes.
E. The expenses of defending any claim against the board members, officers, or employees of this corporation arising out of and in the course of the performance of their duties.
F. Hospital and medical insurance coverage.
The Board may, upon formal resolution duly adopted, become a member of a self insurance group in order to participate in any joint self insurance fund or funds, risk management programs, or related services provided by the group. The Board's membership in the group will be governed by the bylaws of the insurance group, which must be reviewed and approved by the State Superintendent of Insurance in accordance with law.
Trustees of the school board self insurance pool shall be selected in accordance with the bylaws of the insurance group.