(a) The board of trustees of a school district or the governing body of an open-enrollment charter school may obtain accident medical expense, liability, or automobile insurance coverage to protect:
(1) a business or entity that partners with the district or school under § 29.553 to provide students with work-based training and education under the P-TECH program; and
(2) a student enrolled in the district or at the school who participates in the district’s or school’s P-TECH 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) provided through a self-funded risk pool of which the school district or open-enrollment charter school is a member.

(c) The amount of coverage the school district or open-enrollment charter school obtains must be reasonable considering the financial condition of the district or school and may not exceed the amount that, in the opinion of the board of trustees or governing body, is reasonably necessary.
(d) If the board of trustees of a school district or governing body of an open-enrollment charter school obtains accident medical expense, liability, or automobile insurance coverage under this section, the district or school shall notify the parent or guardian of each student participating in the P-TECH program.
(e) The failure of any board of trustees of a school district or governing body of an open-enrollment charter school to obtain coverage, or any specific amount of coverage, authorized by this section may not be construed as placing any legal liability on the district or school or the district’s or school’s officers, agents, or employees for any injury that results.