The study was the first statewide study of risk management practices in the public school divisions of Virginia. The purposes of the study were to (1) examine the risk management practices of the public school divisions of Virginia, (2) probe the relationship between school division size and risk management practices in the public school divisions of Virginia, (3) probe the relationship between school division expenditure per pupil and risk management practices in the public school divisions of Virginia, (4) examine the roles of the Virginia State Department of Education and the State Commission of Insurance in assisting the public school divisions in the administration of the risk management program, (5) identify the legal mandatory requirements for insurance provisions in the public school divisions of Virginia, and (6) make recommendations for the improvement of the risk management program in the public school divisions of Virginia. The legal mandatory requirements for insurance provisions were identified. Criteria for effective risk management were developed, validated by a panel of experts and those accepted used as the bases for developing a questionnaire which also included information items designed to yield information for the improvement of risk management practices. School divisions were classified by size and expenditure per pupil and a questionnaire sent to all 129 operating public school divisions in Virginia. Responses from 104 school divisions indicated that sound policies and practices were followed in these areas: (1) risk management responsibility, (2) knowledge of the legal requirements for insurance, (3) establishment of risk management policy, (4) risk management program review, (5) property appraisal, (6) record keeping, (7) loss reporting, (8) property protection and safety, and (9) insurance coverage. Questionable risk management practices were reported in the following areas: (1) fire, safety, and hazard inspections, (2) programs for loss prevention and safety, (3) risk analysis, (4) selection of insurance companies, and (5) economies in purchasing insurance. School divisions performed risk management administration and record keeping functions effectively but were less effective in insurance practices and loss prevention and safety functions. Large school divisions were more effective in performing risk management practices than medium-size or small divisions. Medium size divisions were more effective than small divisions in performing risk management practices. Above average expenditure divisions were more effective in performing risk management practices than average or below average expenditure divisions. Below average expenditure divisions were slightly more effective in performing risk management practices than average expenditure divisions. The State Department of Education and the State Insurance Commission were reported to be of little assistance in the administration of the risk management program. Results of the data related to the criteria and information items were used as a basis for making recommendations to the State Department of Education, the State Insurance Commission, the State Legislature, and local school divisions. / Ed. D.