Attachement B - Insurance Requirements.pdf

Revised 08/18

STANDARD INSURANCE REQUIREMENTS

Information Technology

The Contractor shall obtain and maintain and cause its sub-contractors to obtain and maintain, at its own expense and for the duration of the contract, the minimum insurance coverages set forth below.

By requiring such minimum insurance, the University shall not be deemed or construed to have assessed the risk that may be applicable to the Contractor under this contract. The Contractor shall assess its own risks and if it deems appropriate and/or prudent, maintain higher limits and/or broader coverages. Neither the contractor nor its sub-contractors, under this agreement, are relieved of any liability or other obligations assumed or pursuant to the Contract by reason of its failure to obtain or maintain insurance in sufficient amounts, duration, or types. Contractor and any persons employed by Contractor for the performance of work hereunder shall be independent contractors and not agents of the University of Colorado.

COVERAGES

• Commercial General Liability – ISO most current form or its equivalent. Coverage to include:

Premises and Operations Personal / Advertising Injury Products / Completed Operations Liability assumed under an Insured Contract (including defense costs assumed under contract) General Aggregate $2,000,000 Products/Completed Operations Aggregate $2,000,000 Each Occurrence Limit $1,000,000 Personal/Advertising Injury $1,000,000

• Automobile Liability including:

Owned Vehicles Non-owned Vehicles Hired Vehicles Combined single limit (Each Accident) $1,000,000

• Workers Compensation Statutory Benefits (Coverage A) Employers Liability (Coverage B) Coverage A (Workers’ Compensation) Statutory Coverage B (Employers Liability) $100,000 Each Accident $100,000 Disease Each Employee $500,000 Disease Policy Limit

• Technology Errors and Omissions including Network Security and Privacy Liability

Contractor shall provide Technology Errors and Omissions insurance covering third party liability resulting from 1) technology services, 2) technology products, 3) media content, 4) network security failures, 5) liability assumed under contract, and 6) privacy liability for privacy wrongful acts (including covering the theft or unintentional disclosure or mishandling of “personally identifiable information” that is in the care, custody, or control of the Contractor; or the Contractor’s unintentional failure to timely disclose a “network breach” in violation of any “breach notification law”.

General Aggregate $5,000,000 Each Occurrence Limit $5,000,000

• Crime Coverage

Coverage shall include employee dishonesty, forgery or alteration and computer fraud Each Occurrence Limit $1,000,000

Revised 08/18

ADDITIONAL INSURANCE REQUIREMENTS

1. All insurers must be licensed or approved to do business within the State of Colorado and should possess a minimum A.M. Best’s Insurance Guide rating that is acceptable to the University of Colorado, and unless otherwise specified, all policies must be written on a per occurrence basis. Professional Liability is acceptable on a claims-made basis.

2. The Contractor shall provide the University of Colorado a Certificate of Insurance evidencing all required coverages, before commencing work or entering University of Colorado premises. The certificate holder shall be The Regents of the University of Colorado, a body corporate, 1800 Grant St.

Suite 700, Denver, CO 80203

3. The Contractor shall name “The Regents of the University of Colorado, a body corporate” as an Additional Insured as respects the general liability policy.

4. A waiver of subrogation in favor of the University of Colorado must apply as respects the Workers’

Compensation and Professional Liability including Technology Errors and Omissions policies.

5. Upon request by the University of Colorado, Contractor must provide a copy of the actual insurance policy and/or required endorsements effecting coverage(s) required by the Contract.

6. The University of Colorado requires that all policies of insurance be written on a primary basis, non-contributory with any other insurance coverages and/or self-insurance carried by the University of Colorado.

7. A separation of insureds clause must be included in general liability policies.

8. Contractor shall notify the University of Colorado of any cancellation, or reduction in coverage or limits of any insurance within seven (7) days or receipt of insurer’s notification to that effect.

9. The Contractor agrees that the insurance requirements specified in the contract do not reduce the liability Contractor has assumed in the indemnification/hold harmless section of the Contract.

10. Failure of the Contractor to fully comply with these requirements during the term of the Contract may be considered a material breach of contract and may be cause for immediate termination of the Contract at the option of the University of Colorado. The University of Colorado reserves the right to negotiate additional specific insurance requirements at the time of the contract award.

11. The parties hereto understand and agree that The University of Colorado is relying on, and does not waive or intend to waive by any provision of this Contract, the monetary limitations or any other rights, immunities, and protections provided by the Colorado Governmental Immunity Act, 24-10-101 et seq., as from time to time amended, or otherwise available to the University or its officers, employees, agents, and volunteers.

12. The University and Contractor shall cooperate with each other in the collection of any insurance proceeds which may be payable in the event of any loss, including the execution and delivery of any proof of loss or other actions required to effect recovery.

COVERAGES