Specifications include, but are not limited to: • The company(ies) providing coverage shall be licensed to do business in the State of Iowa and must have a minimum AM Best Rating of A-VII. • All policies must be written on a primary basis, non-contributory with any other insurance and/or any selfinsured funds of Iowa State University; State of Iowa; and Board of Regents, State of Iowa. • Iowa State University requires occurrence coverage. The certificates should be marked “occurrence.” If there is no box marked “occurrence,” we require the notation “occurrence form” in the Special Conditions box. • The purchase of any policy shall not limit the defense of Governmental Immunity that may be available through Iowa Code Section 669. • Certificates must be issued and on file prior to starting any work related to this agreement. • Contractor must maintain insurance coverage throughout the term of the work. Failure to maintain insurance coverage throughout the term shall be considered a breach of contract. • Contractor shall require all of its Subcontractors and their respective Sub-subcontractors to carry insurance coverage that meets these same insurance requirements or insure the activities of Subcontractors in the Contractor’s own policy. Verifying the insurance compliance on Subcontractors is the responsibility of the Contractor. • Furnishing a certificate that does not meet these requirements does not amend or alter the agreement nor provide proof that the Contractor has met these requirements. • All policies and endorsements may not be non-renewed, cancelled or materially changed or altered unless thirty (30) days’ advance written notice via certified mail is provided to Iowa State University, Procurement Services Department.
