Minimum Insurance RequirementsIn order to best protect the University from liability presented by vendors/contractors/performers providing goods or services to the University, the University requires the vendor/contractor/performer to provide evidence of insurance coverage. This proof of insurance comes in the form of a certificate, which verifies that a certain insurance policy is in effect for stated amounts, coverage and names those insured. The Risk Services Office is responsible for the review and approval of insurance certificates to ensure that the University is responsible only it�s proportionate share of any liability or claims that may arise from the event. Our goal is to ensure that adequate insurance is provided based upon the risks presented. This is accomplished through the evaluation of insurance certificates for each vendor/contractor/performer. The certificate of insurance must meet the following requirements:
- Must be licensed or approved to do business within the Commonwealth of Massachusetts.
- Write required insurance on an occurrence basis. (Professional Liability and Pollution Liability are acceptable written on a claims-made basis.)
- Name Northeastern University and its Board of Trustees, officers and employees, agents students and volunteers as Additional Insureds under general liability, umbrella/excess liabilities and other policies as specified by the contract.
- Possess a minimum A.M. Best Insurance Guide rating of A, VII. The A.M. Best rating measures the insurance company�s financial strength and is composed of two parts: the letter denotes the company�s level and the Roman numeral denotes financial size. A = Excellent and VII = $50M to $100M.
Commonly Requested Insurance
Northeastern University requires insurance coverage that may vary with each event. The following is a brief summary of the most commonly requested insurance policies for events held on campus and off campus:
- General Liability (GL): GL coverage is required from each vendor/contractor/ performer for every land based event, both on and off campus. If a student, employee or visitor is injured or receives property damage due to the negligence of the vendor/contractor/performer that entity would be required to pay. Expenses such as legal fees, medical costs, and property costs would be covered under this policy.
- Excess/Umbrella Liability: Excess and Umbrella coverages add an additional layer of protection once the limits under the GL policy have been exhausted. The University may require excess coverage if the event�s risks pose a greater financial liability than what is presented under the GL policy. Excess policies are only applied to land based events, both on and off campus.
- Auto Liability: Auto coverage must be included on the certificate of insurance if an outside vendor/contractor/third party is operating a motor vehicle on University property. This policy pays for bodily injury and property damage expenses caused by accidents involving that outside entity. For example, auto liability must be listed for a caterer other than Chartwells delivering food on campus, or a band transporting speaker equipment.
- Workers Compensation: Workers Compensation coverage must be included for all outside vendors/contractors/third parties who are physically operating on campus property as part of their job requirement. This policy covers liability for bodily injury to employees working for the outside entity. As with the Auto Liability, Workers Compensation is only need for events on campus.
- Protection & Indemnity (P&I): P&I is much like a GL policy, however, it is only required when an event is taking place on board a covered vessel. It provides coverage for any injury, illness or property damage to any passenger and guest occurring on the wharf or vessel.
- Bumbershoot Liability: Bumbershoot coverage is much like an Excess/Umbrella policy, however, it is only required when an event is taking place on board a covered vessel. It provides an additional layer of protection that sits over the P&I policy.
- Liquor Liability: Liquor Liability coverage must be included under the GL (or P&I) policy if liquor will be served at any event. Liquor liability protects a business against loss or damages claimed as a result of intoxication.
- Sexual Molestation Liability: Sexual Molestation coverage must be included under the GL policy if minors are to be involved in any University related activity through an arrangement with another organization or camp.