Why require insurance from an outside party, such as a contractor or vendor?
Insurance is a mechanism to protect the interest of the Nevada System of Higher Education (NSHE) and all its institutions. Specifically, insurance provides a mechanism for the system to recover for injury or damage that an outside party is legally obligated to pay. Such obligations could occur if an outside party injures an employee or student, damages the property belonging to a campus, or damages personal property of an employee or student.
Related Questions
- If we are responsible for establishing the process, will DRA require us to use a 3rd party vendor to verify that our process is in line with the standard?
- What insurance does a Registered Builder/Company or Licensed Contractor require?
- Why require insurance from an outside party, such as a contractor or vendor?
