This document outlines the various types of insurance policies and their functions to help school administrators improve their management of risk. Eight exhibits highlight information on the following topics: the five basic sections of all insurance policies; key property insurance clauses; general liability; school board legal liability; the functions of umbrella coverage; crime insurance (the theft of money and forgery); and fidelity bonds. Attachments include a declarations page, sample property insurance policy, sample general liability policy, sample school board legal liability policy, and an article on the basics of fidelity bonding. (LMI)