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 a 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 to 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. Vendors and subcontractors must abide by the necessary procedures, requirements, and regulations outlined in the contract.
Revised July 2019.