Contract Risk Management
Third Party Insurance Requirements
Third parties doing business with VT must maintain minimum insurance. This includes third parties renting space on campus for events, providing services at a VT-sponsored event OR an event on campus (such as a performer or caterer), as well as events hosted by Registered Student Organizations (RSOs).
Based on the relationship between the third party and VT, and the work or goods/services being contemplated VT reserves the right to request additional insurance coverage or terms, but minimum insurance for a third party include the following (this is an abbreviated summary; the full requirements can be found here Third Party Insurance Requirements.
- Commercial general liability insurance: $1,000,000 per occurrence/$2,000,000 aggregate
- If alcohol is being served, this must include host liquor liability.
- Auto liability insurance: $1,000,000 per occurrence/$2,000,000 aggregate (if the third party owns any automobiles)
- Workers’ Compensation: statutory limits (if the third party has employees)
General and auto liability policies must name VT as additional insured using this language:
- “Virginia Polytechnic Institute and State University and the Commonwealth of Virginia, its officers, officials, employees, agents, and volunteers are listed as additional insureds.”
Certificates of Insurance
Certificates of Insurance (COIs) provide evidence that an organization has insurance. Information on what a COI is, what should be on it, and how to read it can be found on our COI page.
If you are affiliated with VT and need to produce evidence of VT’s insurance for a third party, please request a COI using the link on the sidebar or contact the Office of Risk Management.
All contracts and agreements must be signed by an authorized University representative. These documents must be submitted to the appropriate University designee, for review, signature and return. Most Faculty and Staff are not authorized to sign a contract or agreement so identify who is authorized in your Department or University Area.