Risk Finance

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Contracts & Indemnification

An Indemnity agreement is a contractual provision that requires one contracting party to respond to certain legal liabilities of the other party. For example, construction contracts typically require the contractor to indemnify the owner with respect to the owner's liability to members of the public who are injured or whose property is damaged during the course of the contractor's operations.

Contractual Insurance Requirements

Insurance requirements are present in most contractual agreements. For a review of any contractual insurance requirements, contact Eric Agnew, Risk and Insurance Analyst.

Certificates of Insurance

A Certificate of Insurance is a document that evidences for one party the insurance coverage(s) held by another party. It is not an insurance policy and it does not provide any coverage to the certificate holder. For more information, refer to Acord Certificate Quick Tips.

Certificates From Other Parties

When other parties provide the University with a Certificate of Insurance, you need to verify that all insurance requirements have been met. For a review to verify whether or not contractual insurance requirements have been met, send a copy of the certificate with the corresponding contract to Eric Agnew, Risk and Insurance Analyst.

 

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