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 Vendor, his agents, representatives,
employees or subcontractors. The cost of such insurance shall be included in the Vendor’s
bid. The Vendor, prior to commencing work, shall provide at his own expense, proof
of the following insurance coverage required by the contract to the University in
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 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 insureds” as respects liability arising
our of activities performed by and on behalf of the Vendor; products and completed
operations of the Vendor; premises owned, occupied or used by the Vendor.

 

C. An Umbrella Policy may be used to meet minimum requirements.

 

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 Vendor shall procure a bond guaranteeing
payment of losses and related investigations, claim administration and defense expenses.