Operations Manual

5.2-7
INSURANCE POLICY REQUIREMENTS
FOR VENDORS AND CONTRACTED PARTIES

The University engages vendors and other contracted parties to provide support services for academic and administrative functions of the institution. As it is good risk management practice to protect the University from potential liability and economic loss, the following policy sets forth insurance coverage requirements for vendors and other contracted parties.

Policy

Certificates of Insurance evidencing the following coverages must be forwarded to the SVSU Director of Business Services prior to admittance to the premises. The certificate should be mailed to:

Director of Business Services
Saginaw Valley State University
South Campus Complex A
University Center, Michigan 48710
or
Faxed to: (989) 790-1280

  1. The vendor agrees to procure and maintain, at its own expense, public liability and property damage insurance including premises and operations, product liability, completed operations liability, contractual liability and broad form property damage liability with minimum limits of $1,000,000 each occurrence for bodily injury and property damage.
  2. The vendor shall procure and maintain, at its own expense, automobile liability for all trucks, trailers, or other motor vehicles owned, hired, operated or used by the vendor on SVSU premises with minimum limits of $1,000,000 each occurrence for bodily injury and property damage.
  3. The vendor shall provide workers' compensation for all of its full-time and part-time employees in accordance with the laws of the State Michigan.
  4. The Director of Business Services or the Vice President for Administration and Business Affairs may require higher limits or may allow lower limits, and also may require additional lines of insurance in accordance with the type of service provided by the vendor or contracted party.

The certificate must reflect the following detail to be acceptable:

  1. The certificate(s) must name Saginaw Valley State University as the Certificate Holder.
  2. The certificate(s) must name Saginaw Valley State University as an additional insured, with the exception of workers' compensation.
  3. The policy period is current for the dates indicated for the scheduled activity.
  4. When applicable, the dates of the activity must be listed in the description portion of the insurance certificate.
  5. The cancellation portion of the certificate must include a 30-day written notice requirement for cancellation.

The vendor agrees to forward immediately to the SVSU Director of Business Services renewal certificates of insurance should any of the insurance coverage evidenced expire during the term of the contract.

 

 

Adopted 5/05/06 BC