Mr. Erickson says, if I understand him correctly, that they don't do a "co-insurance". Maybe we're getting wrapped up in semantics, but there is a difference between being a "co-insured" and "additional insured". I'd have to go back about 14 years in my memory (and that can be scary), but I believe that a co-insured would be a policy for two or more individuals or entities. In my instance, the insurance policy was for Continental Shelf Associates (marine research), CSA Marine Services (marine construction). These two companies were co-insured under one policy. To add a co-insured would be a substantive policy change and would result in additional premiums. In fact, a year after I joined, they added ANV, Ltd. which significantly increased the bills. ANV, Ltd. was an Anti/Counter-terrorism training company dealing with live-fire situations, jumping out of perfectly good aircraft into water without a parachute, demolition and defusing explosives...you get the picture. High risk stuff. Did I mention they did most of their work overseas? This was a fun job. Adding an "additional insured" to a policy only costs paper, postage and time. All that's being done is telling the insurance company where to send the check in the event of an incident due to your actions or negligence, and in the even you cause damage to persons or property belonging to or associated with the owner of the contract. In the case of the original posting, the Glaucoma Foundation is sponsoring research presumably using live subjects. Obviously this involves an amount of risk to the subjects. GF is requesting to be an "additional insured" or "named insured" since they are presumed to be the deep pockets, but are not actually performing the research. If a subject's vision is impaired by the research and sues GF, since they're the sponsors, they properly want you to pay for your mistakes to the limits required by the contract. Being an "additional insured" is the proper vehicle for that transaction. However, if the research is performed at GF facilities using their labs and equipment, and/or if GF provides the medications to be used in the research, being an "additional insured" will not affect your insurance at all in the event of an incident except to the extent you had anything to do with it (over/under prescribing for example). Clear as mud? Greg Schmidt ----- Original Message ----- From: "Stephen Erickson" <xxxxxx@BC.EDU> To: <xxxxxx@HRINET.ORG> Sent: Wednesday, January 26, 2000 5:39 PM Subject: Re: Evidence of Insurability > Yes, if you ask them, most sponsors are really just looking for proof that we > have adequaste insurance, and in such cases we gladly provide them with a > certification or a letter from our insurance office. We do, however, resist > those instances in which sponsors have really wanted to be names as a co-insured > on our policies/insurance program. We have never agreed to the co-insured > language in an agreement --- to the best of my knowledge (I also learned a long > time ago to never say never!). > > Steve > > Greg Schmidt wrote: > > > When I was in private, the Federales always wanted to be named. I was > > concerned about it, too, but the broker said it didn't really matter. The > > certificate was for the job. If an event took place at the job site, we had > > proof that we were covered. Damages to the facilities would be paid not to > > us, but the agency. After all, we didn't own them. But if they caused > > damage to their own facility, that was their responsibility. > > > > For a sponsor of research, it's a liability issue. Mostly, they're > > concerned that we're covered for liability (bodily injury, etc.) on our > > facilities. The indemnification clauses in the contract will supposedly > > cover their liability for our actions. This runs into the "deep pocket" > > mess. A little company like the one I worked for had a significant amount > > of liability coverage. Most of the contracts required at least $5 million > > (1988). If an individual tried to sue the owner due to our negligence, our > > $5 million would be tapped first. If it were the owner's negligence, ours > > wouldn't be touched. > > > > So really, we were not co-insuring the agency or sponsor. That's how it was > > explained to me. > > > > Greg > > > > ----- Original Message ----- > > From: "Stephen Erickson" <xxxxxx@BC.EDU> > > To: <xxxxxx@HRINET.ORG> > > Sent: Wednesday, January 26, 2000 4:10 PM > > Subject: Re: Evidence of Insurability > > > > > I have always thought this to be a very bad idea. Evidence of being > > insured is > > > very different from naming the sponsor as a co-insured. I would definitely > > > check with the institutional insurance office. I have always understood > > naming > > > a co-insured to be extremely expensive and expands the potential for > > exposure > > > to liability. > > > > > > Steve Erickson > > > > > > Greg Schmidt wrote: > > > > > > > Your insurance broker does these all the time. If you're self-insured, > > > > contact the manager of insurance. S/He'll take it from there. > > > > > > > > Greg Schmidt > > > > > > > > ----- Original Message ----- > > > > From: "spettyjo" <xxxxxx@HSC.UNT.EDU> > > > > To: <xxxxxx@HRINET.ORG> > > > > Sent: Wednesday, January 26, 2000 2:34 PM > > > > Subject: Evidence of Insurability > > > > > > > > > Hello Everyone - Hope "ya'll" aren't all snowed in. > > > > > > > > > > A little help please - > > > > > > > > > > A PI at our institution is submitting a grant to the Glaucoma > > Foundation > > > > > and there is a stipulation that our institution place them on our > > > > > general liability policy or name them as an additional insured. Has > > > > > anyone ever heard of this before? How did you address this? Thanks > > for > > > > > any help. > > > > > > > > > > > > > > > Shelly R. Pettyjohn > > > > > Pre-award Grants/Funding Specialist > > > > > Univ. of North Texas Health Science Center at Fort Worth > > > > > 817 735-2561 > > > > > fax 817 735-5485 > > > > > email: xxxxxx@hsc.unt.edu > > > > > > > > > > > > ====================================================================== > > Instructions on how to use the RESADM-L Mailing List, including > > subscription information and a web-searchable archive, are available > > via our web site at http://www.hrinet.org (click on "Listserv Lists") > > ====================================================================== > ====================================================================== Instructions on how to use the RESADM-L Mailing List, including subscription information and a web-searchable archive, are available via our web site at http://www.hrinet.org (click on "Listserv Lists") ======================================================================
