NAC386.215. Provision and maintenance of insurance coverage.

     1. Except as otherwise provided in subsection 4 of NAC 386.140, a committee to form a charter school shall obtain insurance from an authorized insurer as follows:

     (a) Industrial insurance coverage in accordance with the applicable provisions of the Nevada Industrial Insurance Act, chapters 616A to 616D, inclusive, of NRS.

     (b) Except as otherwise provided in subsection 2, general liability insurance with a minimum coverage of $1,000,000. The general liability insurance policy must include coverage for molestation and sexual abuse, and have a broad form policy, with the named insureds as follows:

          (1) The sponsor of the charter school;

          (2) All employees of the charter school, including, without limitation, former, present and future employees;

          (3) Volunteers at the charter school; and

          (4) Directors of the charter school, including, without limitation, executive directors.

     (c) Umbrella liability insurance with a minimum coverage of $3,000,000.

     (d) Educators’ legal liability insurance with a minimum coverage of $1,000,000.

     (e) Employment practices liability insurance with a minimum coverage of $1,000,000.

     (f) Employment benefits liability insurance with a minimum coverage of $1,000,000.

     (g) Insurance covering errors and omissions of the sponsor and governing body of the charter school with a minimum coverage of $1,000,000.

     (h) If applicable, motor vehicle liability insurance with a minimum coverage of $1,000,000.

     (i) If applicable, liability insurance for sports and athletic participation with a minimum coverage of $1,000,000.

Ê The cost of insurance required by this subsection must be provided to the proposed sponsor by the authorized insurer and included in each budget submitted pursuant to subsection 4 of NAC 386.180 and NAC 387.725.

     2. The sponsor of a charter school may waive all or part of the general liability insurance required pursuant to paragraph (b) of subsection 1 if the sponsor determines that such a waiver is reasonable based upon the risk profile of the charter school or the conditions of the insurance market, or both, including, without limitation, a determination that the cost of obtaining the insurance is excessive or that the insurance is not available because of special circumstances of the charter school.

     3. If an application to form a charter school is approved, the governing body of the charter school shall maintain the insurance required by this section.

     4. As used in this section, “motor vehicle” has the meaning ascribed to it in NRS 485.050.

     (Added to NAC by Dep’t of Education by R044-05, eff. 10-31-2005; A by R074-07, 10-31-2007; A by Bd. of Education by R026-09, 10-27-2009)