Insurance Requirements Updated for RFPs and Contracts
Insurance Requirements Updated for RFPs and Contracts
Subsite navigation May 7, 2021
Ohio University Enterprise Risk Management & Insurance in collaboration with the IUC-RMIC (Risk Management & Insurance Consortium) have updated the Recommended Insurance Requirements for new RFPs and Contracts. These requirements can be found here on the Risk Management webpage. Some significant changes for new contracts and renewals only: Employers’ Liability has increased from $500K to $1M, and the Cyber Liability (for contracts with service providers who have access to credit card information, student or employee records, health records, or any other Personally Identifiable or Protected Health Information) has risen from $1M to $5M. While the increase for the Employers’ Liability was not a surprise, the Cyber Liability requirement reflects the negative impact the pandemic has had on the industry.