Business Services

Service Hours

Business Services Hours:

8:00-4:30 Monday-Friday
Summer:
7:30-4:00 Monday-Friday

Cashier Hours:

8:00-4:00 Monday-Friday
Summer:
7:30-3:30 Monday-Friday

Business Serivces

[Purchasing] [Purchasing Manual] Certificates of Insurance

Definition: A certificate of insurance is verification that a vendor’s insurance limit meets or exceeds state requirements to contract with the University.

Policy: All vendors are required to submit a certificate of insurance prior to the start of work on campus. Acknowledged certificates are filed in Business Services.

Procedure: The vendor shall not commence work under the contract until they have obtained all the insurance described below and Business Services has approved such insurance. All policies and certificates shall provide that the policies shall remain in force and effect throughout the term of the contract.

POLICY REQUIREMENTS

  1. Workers' Compensation Insurance:
    1. Statutory Compensation Coverage
    2. Coverage B Employers Liability with limits of not less than:
      • $100,000 Bodily Injury by Disease per Employee
      • $500,000 Bodily Injury by Disease Aggregate
      • $100,000 Bodily Injury by Accident
  2. Automobile Liability Insurance
    1. Minimum Limits of Liability:
      • $2,000,000 Per Occurrence - Bodily Injury and Property Damage Combined Single Limit
    2. Coverages:
      • Owned Automobile, if any
      • Non-owned Automobile
      • Hired Automobile
  3. General Liability Insurance
    1. Minimum Limits of Liability:
      • $2,000,000 - Per Occurrence
      • $2,000,000 - Annual Aggregate
      • $2,000,000 - Annual Aggregate applying to Products/Completed Operations
    2. Coverages:
      • Premises and Operations Bodily Injury and Property Damage
      • Personal & Advertising Injury
      • Blanket Contractual
      • Products and Completed Operations
      • Other: Please List_________________________________

    Named as Additional Insured: The Board of Trustees of the Minnesota State Colleges and Universities and its officers and members, to include St. Cloud State University, the State of Minnesota, officers and employees of the State of Minnesota, the Architect and its agents (if applicable) shall be named as Additional Insureds. The Additional Insured coverage is limited to insured claims arising out of the Contractor’s negligence or the negligence of those for whom the Contractor is responsible, excluding coverage for the Additional Insureds’ separate or independent negligence.

    Contractor's policy(ies) shall be primary insurance to any other valid and collectible insurance available to the Owner and all Insured Parties with respect to any claim arising out of this contract. The Contractor will provide Owner and all Insured Parties with thirty (30) days advance written notice of cancellations, non-renewals or reduction in limits or coverage or other material change.Contractor is responsible for payment of insurance deductibles. If Contractor is self-insured, a Certification of Self-Insurance must be attached.

  4. Professional Liability/Miscellaneous Liability Insurance (Only necessary if there is a professional liability exposure)
    Coverage for negligent acts, errors or omissions arising out of the performance of professional services included in the contract.
    1. Minimum Limits of Liability:
      • $2,000,000 - Per Occurrence
      • $2,000,000 - Annual Aggregate
    2. Any deductible will be the sole responsibility of the Contractor and may not exceed $50,000 without the approval of the State.
    3. The retroactive or prior acts date of such coverage shall not be after the effective date of this contract.
    4. The Contractor shall maintain such insurance for a period of at least three (3) years, following completion of the work. If such insurance is discontinued, extended reporting period coverage must be obtained by Contractor to fulfill this requirement.
  5. Additional Insurance Conditions
    1. Contractor’s policy(ies) shall be primary insurance to any other valid and collectible insurance available to the State of Minnesota with respect to any claim arising out of the contractor’s performance under this contract.
    2. Contractor’s policy(ies) will provide the State of Minnesota with thirty (30) days advance written notice of cancellation.
    3. Contractor is responsible for payment of contract related insurance premiums and deductibles.
    4. If Contractor is self-insured, a Certification of Self-Insurance must be attached.
    5. Contractor’s policy(ies) shall include legal defense fees in addition to the liability policy limits, with the exception of 4. above.
    6. Contractor shall obtain insurance policy(ies) from insurance company(ies) having an “AM Best” rating of A- (minus), Financial Size Category of VII or better, and authorized to do business in the State of Minnesota.
    7. An Umbrella or Excess Liability insurance policy may be used to supplement the Contractor’s policy limits to satisfy the full policy limits required by the Contract.

Link to MnSCU Risk Management information:
http://www.finance.mnscu.edu/facilities/insurance-riskmgmt/docs/GENERAL_INSURANCE_REQUIREMENTS_21.pdf

 

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