Insurance Requirements for Vendors (SUBJECT TO CHANGE DEPENDING ON SCOPE OF WORK). These requirements do not apply to construction projects.
Ithaca College requires Certificate(s) 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, fax to (607) 274-5717, or email to firstname.lastname@example.org the requested Certificate(s) of Insurance. Mailing address is Ithaca College, Office of Risk Management, 953 Danby Road, Ithaca, New York 14850.
1. The standard insurance requirements are as follows:
Vendor agrees to obtain and maintain in full force and effect the following insurance (at Vendor's own expense to cover activities of Vendor and its agents, subcontractors and/or employees) before commencement of any awarded work and throughout the duration of the Agreement:
Commercial General Liability insurance on an occurrence form, including broad form blanket contractual liability coverage, for claims arising in connection to this Agreement for personal injury, bodily injury, and property damage, including products and completed operations, with available limits not less than $1,000,000 combined single limit per occurrence and $2,000,000 general annual aggregate.
Comprehensive Automobile Liability Insurance covering all owned, non-owned and hired vehicles with limits of liability not less than $1,000,000 combined single limit each occurrence for bodily injury and property damage and $1,000,000 aggregate.
Umbrella/Excess Liability Insurance over all underlying exposures with limits of not less than $5,000,000 per occurrence.
Workers’ Compensation policies, including Coverage B Employer’s Liability, 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.
2. In addition, and if applicable to the scope of work by Vendor, the following insurance policies may also be required:
Professional Liability/Errors & Omissions Insurance and/or Technology Services Errors & Omissions/Technology Products Errors & Omissions with minimum limits of not less than $1,000,000 limit and in the annual aggregate (or higher limits may be required), inclusive of defense costs, 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. Ithaca College must be named as an additional insured under Professional Liability/Errors & Omissions Insurance and/or Technology Services Errors & Omissions/Technology Products Errors & Omissions policy. Further, an appropriate endorsement deleting the Insured vs. Insured exclusion must be evidenced, so as not to impede a claim by College for a wrongful act of Vendor.
Cyber Liability Insurance requirements are the following, but the policy limits may change depending on the scope of work and cyber exposures: (See sample Cyber Certificate Of Insurance - COI on the sidebar)
Network Security / Privacy Liability with breach response coverage: Liability should have a minimum of $1 million limit and in the annual aggregate and include breach response, inclusive of defense costs.
If cyber liability policy or policies are written on a claims-made basis, coverage must be in place for a period of at least 12 months after the completion or termination of the Agreement. Ithaca College must be named as an additional insured under the cyber policy. Further, an appropriate endorsement deleting the Insured vs. Insured exclusion must be evidenced, so as not to impede a claim by College for a wrongful act of Vendor.
Commercial Crime Insurance/Employee Dishonesty Coverage for loss of money, securities and other tangible property belonging to Ithaca College, or for which such money, securities and other tangible property Ithaca College is legally liable for, resulting directly from a fraudulent or dishonest act by Vendor's employee, or a Vendor's subcontracted employee, while performing professional services for Ithaca College, in an amount not less than $1,000,000 (limit may change depending on work performed for College) for any one loss or occurrence. Coverage will also extend to Third-Party Customer Extension, along with a Loss Payee Provision.
3. For ALL policies required:
All insurance carriers shall be licensed in the State of New York, acceptable to Ithaca College, and with a minimum rating of “A,” Class VIII in Best’s Key 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. The insurance may be provided in a policy or policies. The terms of all insurance shall be acceptable to the College. The limits of liability shall be as stated herein, unless prior to commencement of any work written approval is granted by the College for variance from those limits.
Each insurance policy required to be provided, with the exception of the Workers’ Compensation and Employer’s Liability, shall be endorsed to name as additional insured Ithaca College, their directors, members, officers, employees, students, and all other persons or entities as may be reasonably required by Ithaca College (see separate requirements for Professional Liability and Cyber Liability policies above). The coverage afforded the additional insured under these policies shall be primary insurance and shall include Products and Completed Operations coverage. Additional insured endorsement CG 2010 and CG 2037 or its equivalent, without modification, is mandatory providing additional insured status to the College including Completed Operations coverage. 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.
Waiver of Subrogation for General Liability policy and Auto Liability policy must be included and Vendor shall waive all rights of recovery, under subrogation or otherwise, against Ithaca College, and will be stated as such on the Certificate of Insurance.
Vendor shall furnish to Ithaca College a Certificate(s) of Insurance evidencing all insurance as required herein and must contain a provision 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.
Submittals of any of the foregoing documentation may also be required for any subcontractors. Subcontracting is allowable only with prior approval of the College. Vendor and subcontractors must abide by necessary procedures, requirements and regulations outlined in the contract.
Revised January 2016