Insurance Requirements for Vendors (SUBJECT TO CHANGE DEPENDING ON SCOPE OF WORK). These requirements do not apply to construction projects.
Ithaca College requires certificates of insurance be on file with our Office of Risk Management for review and approval prior to the commencement of any work by your firm. Please mail or fax to (607) 274-5717 the requested Certificate(s) of insurance. Mailing address is Ithaca College, Office of Risk Management, 953 Danby Road, Ithaca, New York 14850.
The full insurance requirements are as follows:
All insurance carriers utilized must be licensed to do business in New York State and shall carry a minimum rating of “A,” Class VIII in Best’s Rating Guide published by A.M. Best and Company, Inc. Insurance shall be on a yearly basis written for not less than any amounts of liability specified as part of this contract.
Certificates of such insurance are to be current at the time of contract and remain in force for the period of contract. Ithaca College shall receive certificates of insurance evidencing all insurance as required herein and contain a provision that the coverage and limits of liability afforded under the policies shall not be materially altered, non-renewed, canceled, reduced or allowed to expire without thirty (30) days prior written notice to the certificate holder.
Insurance coverage must meet or exceed liability insurance limits set by Ithaca College per the following:
Comprehensive Commercial General Liability Insurance on an occurrence form, including broad form blanket contractual liability, for claims arising out of the work hereunder for personal injury, bodily injury and property damage, and if applicable, products and completed operations coverage.
- Limits of Liability: Combined Single Limit $1,000,000 each occurrence and $2,000,000 general annual aggregate.
- The insurance may be provided in a policy or policies. The terms of all insurance provided by the contractor shall be acceptable to Ithaca College. The limits of liability shall be as stated herein, unless prior to commencement of any work written approval is granted by Ithaca College for variance from those limits.
Comprehensive Automobile Liability Insurance covering all owned, non-owned and hired vehicles:
- Limits of Liability: Combined Single Limit $ 1,000,000 each occurrence for bodily injury and property damage and $1,000,000 aggregate.
Umbrella Liability insurance over all underlying exposures with limits of not less than $5,000,000 per occurrence.
Workers’ Compensation policies in full compliance with the Workers’ Compensation Laws of the State of New York and all states where the work is performed or in which a claim shall be presented. If employer is located or resides outside the State of New York, the certificate must evidence the policy coverage applies to All States.
Professional Liability/Errors & Omissions Insurance, if applicable to work performed for Ithaca College, with minimum limits of not less than $1,000,000 per occurrence and $2,000,000 aggregate, and must indicate if it provides occurrence or claims made coverage. If Professional Liability coverage is written on a claims made form, coverage must be maintained for a minimum of three years after completion of contract. If Professional Liability policy has a self-insured retention or deductible greater than $25,000 it is required that an audited financial statement be submitted for review. Any insurance written on a claims made form must indicate retro date.
Each insurance policy required to be provided, with the exception of the Worker’s Compensation and Employer’s Liability and Professional Liability, shall be endorsed. ITHACA COLLEGE, their directors, members, officers, employees, and students must be named AS AN ADDITIONAL INSURED.
The General Liability policy must include Insurance Service Office, Inc. additional insured form CG20370704, or its equivalent without modification, which shall provide Ithaca College additional insured status with respects to ongoing completed operations, if applicable. The coverage afforded the additional insured under these policies shall be primary insurance. If the additional insured has other insurance, which is applicable to the loss, such other insurance shall be on an excess, secondary and non-contributory basis. Certificate must reference the contract/specific service provided and date(s) of service.
Submittals of any of the foregoing documentation are also required for any subcontractors. Subcontracting is allowable only with prior approval of the College. Contractor and subcontractors must abide by necessary procedures, requirements and regulations outlined in the contract.