1-Insurance.pdf

This is an insurance requirements document for Hudson Valley Community College related to independent auditing services. The document outlines mandatory insurance coverage requirements that potential bidders must maintain throughout the contract period. The College requires comprehensive general liability insurance with minimum limits of $1,000,000 per occurrence and $2,000,000 aggregate, as well as professional liability insurance with minimum coverage of $1,000,000 per claim and $2,000,000 aggregate. Additional requirements include workers' compensation insurance as mandated by New York State law, and automobile liability insurance with minimum limits of $100,000 combined single limit for any owned, hired, or non-owned vehicles used in performance of the contract.

All insurance policies must be issued by insurers authorized to do business in New York State and maintain an A.M. Best rating of A- VII or better. The College must be named as an additional insured on the general liability and automobile liability policies, and certificates of insurance must be provided prior to contract execution. The insurance requirements remain in effect for the duration of the contract term, including any renewal periods. These provisions ensure that the selected auditing firm maintains adequate protection and risk management standards while performing independent auditing services for the College.