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Certificate of Liability Insurance Requirements

Licensee shall not occupy the Space under the Agreement until Licensee has obtained, at its sole expense, general liability and property damage insurance requirements as described below and naming both Minnesota State Colleges and Universities and º£½ÇÊÓƵ as additional insured, and has provided a certificate of insurance. No occupancy or use by Licensee may take place until satisfactory evidence of insurance coverage is provided.

General Insurance Requirements

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. 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; if applicable, please list___________________________________
      • State of Minnesota or Minnesota State Colleges and Universities named as Additional Insured

Additional Insurance Conditions

• Licensee’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 Licensee’s performance under this Agreement.
• Licensee agrees to notify the State of Minnesota within five (5) business days with a copy of the cancellation notice, unless Licensee’s policy(ies) contain a provision that coverage afforded under the policy(ies) will not be cancelled without at least thirty (30) days advance written notice to the State of Minnesota
• Licensee is responsible for payment of Agreement related insurance premiums and deductibles.
• If Licensee is self-insured, a Certification of Self-Insurance must be attached.
• Licensee’s policy(ies) shall include legal defense fees in addition to the liability policy limits.
• Licensee 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.
• An Umbrella or Excess Liability insurance policy may be used to supplement the Licensee’s policy limits to satisfy the full policy limits required by the Agreement.