Does the Universitys Risk Management/Insurance Programs Cover Problems that Arise Out of Contract Performance?
Not in all situations. The Insurance Policies and Self-Insured Programs cover general, automobile, and professional liability situations. These programs do not cover any situation where there is a violation of University policies such as engaging in work under an unapproved contract or assumption of third party liability, as prohibited by the Regents’ Standing Orders. There is also no insurance coverage for breach of contract issues. These are uninsurable exposures. Bad business judgments and financial mistakes are the responsibility of our campus.
