Insurance and Indemnification Requirements
Before commencing work on University premises, the Contractor/Vendor shall obtain at its own cost and expense, and provide evidence of, Workers Compensation, Commercial General Liability, and Automobile Liability Insurance naming the Board of Supervisors of Louisiana State University and Agricultural & Mechanical College as an additional insured. Full Requirements are below.
Contractor/Vendor shall procure and maintain for the duration of the contract insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the work hereunder by the Contractor/Vendor, his agents, representatives, employees or subcontractors. The cost of such insurance shall be included in the Contractor/Vendor's bid. The Contractor/Vendor, prior to commencing work, shall provide at his own expense, proof of the following insurance coverage required by the contract to the University from insurance companies authorized in the State of Louisiana. Insurance is to be placed with insurers with an A.M. Best's rating of A-:VI or higher. This rating requirement may be waived for workers' compensation coverage only.
A. Workers' Compensation and Employers Liability: Workers' Compensation limits as required by the Labor Code of the State of Louisiana and Employers Liability coverage. The insurer shall agree to waive all rights of subrogation against the University, its officers, officials, employees and volunteers for losses arising from work performed by the Contractor/Vendor for the University.
B. Comprehensive General Liability: $1,000,000 combined single limit per occurrence for bodily injury, personal injury and property damage. "Claims Made" form is unacceptable. The "occurrence form" shall not have a "sunset clause". The policies are to contain, or be endorsed to contain, that the University, its officers, officials, employees, Boards and Commissions and volunteers are to be added as "additional insures" as respects liability arising our of activities performed by and on behalf of the Contractor/Vendor; products and completed operations of the Contractor/Vendor, premises owned, occupied or used by the Contractor/Vendor.
C. Automobile Liability: $1,000,000 combined single limit per accident, for bodily injury and property damage. The policy shall provide coverage for owned, hired, and non-owned coverage. If an automobile is to be utilized in the execution of this contract, and the Contractor/Vendor does not own a vehicle, then proof of hired and non-owned coverage is sufficient.
D. An Umbrella Policy may be used to meet minimum requirements.
Each insurance policy shall be endorsed to state that coverage shall not be suspended, voided, canceled by either party, reduced in coverage or in limits except after thirty (30) days' prior written has been given to the University.
Any deductibles or self-insured retentions must be declared to and approved by the University. At the option of the University, either: the insurer shall reduce or eliminate such deductibles or self-insured retentions as respects the University, its officers, officials, employees and volunteers; or the Contractor/Vendor shall procure a bond guaranteeing payment of losses and related investigations, claim administration and defense expenses.