(a) The board of trustees of a school district or the governing body of an open-enrollment charter school may obtain accident, liability, or automobile insurance coverage to protect:
(1) a business or entity that participates with the district or school to provide district or school students a career and technology program; and
(2) a district or school student who participates in a district or school career and technology program.
(b) The coverage authorized by this section must be:
(1) obtained from a reliable insurer authorized to engage in business in this state; or
(2) for a district, provided through the district’s self-funded risk pool.

(c) The amount of coverage a district or school obtains:
(1) must be reasonable considering the financial condition of the district or school; and
(2) may not exceed the amount that is reasonably necessary in the opinion of, as applicable, the board of trustees of the district or the governing body of the school.
(d) If the board of trustees of a district or the governing body of a school obtains accident, liability, or automobile insurance coverage under this section, an administrator designated by the board of trustees of the district or governing body of the school, as applicable, shall notify the parent or guardian of each student participating in the career and technology program.
(e) A district or school may not directly or indirectly charge a student or the student’s parent or guardian for the cost of providing to the student insurance under this section.
(f) The failure of any board of trustees of a district or the governing body of a school to obtain coverage authorized by this section or to obtain a specific amount of coverage under this section may not be construed as placing any legal liability on, as applicable, the district or the district’s officers, agents, or employees or the school or the school’s officers, agents, or employees.