Minimum Insurance Requirements
Vendors doing business with the University, as well as outside organizations and individuals using University facilities, should maintain insurance as necessary to reasonably protect the financial interests of the University. The Office of Risk Management recommends the following minimum insurance requirements. A Certificate of Insurance (COI) should be provided to the TTU University System prior to any work or services. Higher limits may be recommended depending on the activity. Please consult the Office of Risk Management for recommended limits regarding high-risk activities.
Insurance policies must be issued by an insurance company licensed to do business in the State of Texas, carrying an A.M. Best鈥檚 rating of A- VII or Standard & Poor鈥檚 rating of BBB+ or better, and the certificate must be signed by an authorized agent. Coverage shall not be suspended, voided, or canceled except with 30 days鈥� prior written notice to the University, unless cancellation is for non-payment of premium; in that case, ten (10) days鈥� prior written notice may be given.
If any subcontractor is used, they, or the vendor on their behalf, shall carry the same coverages and limits of insurance outlined by the University. It is the vendor鈥檚 responsibility to ensure compliance with this requirement.
Insurance
Commercial General Liability:
- $1,000,000 Each Occurrence
- $2,000,000 Aggregate
- $2,000,000 Products & Completed Operations Aggregate
- $1,000,000 Personal & Advertising Injury
- $1,000,000 Fire Damage (Any One Fire)
- $5,000 Medical Expense (Any One Person)
The policy should name the 麻豆天狼副利院, its Board of Trustees, Administrators, Faculty, Staff, and Agents as an additional insured. A waiver of subrogation should be included, along with a primary non-contributory language. Policy should be written on an occurrence basis.
Commercial Auto Liability:
(*If driving on university-owned property or driving University personnel, this may
be waived if the contract does not involve the use of a motor vehicle.)
- $1,000,000 Combined Single Limit
The policy should name the 麻豆天狼副利院, its Board of Trustees, Administrators, Faculty, Staff, and Agents as an additional insured. A waiver of subrogation should be included, along with a primary non-contributory language. Policy should be written on an occurrence basis.
Workers鈥� Compensation:
(*This may be waived if the contractor does not have employees, except when the contract
is for high-risk work.)
- Statutory Limits
- $1,000,000 Minimum Employers Liability Limits
A waiver of subrogation should be included, along with a primary non-contributory language. Policy should be written on an occurrence basis.
Professional Liability/Errors & Omissions:
(Required if the vendor is providing professional, technical, or consulting services.)
- $1,000,000 Each Occurrence
- $1,000,000 Aggregate, including proof of coverage for up to three years after completion of the project
A waiver of subrogation should be included.