Grantee Requirement: Insurance
Grantees must maintain insurance coverage for the duration of their Grant Award and upload their Certificate(s) of Insurance to the Grantee Portal annually.
BCYF shall only disburse funds to subcontractors, organizations with an exchange agreement, like a fiscal sponsorship, and grantees that it has a written agreement with and who comply with these rules and regulations.
Such agreement shall include the following:
Provisions for insurance as required by the Agreement unless the City’s Office of Risk Management provides an exception; and
Provisions for the indemnification of BCYF and the City.
At any time throughout the duration of the grant, BCYF may request subcontractors and grantees provide proof of the required insurance set forth below.
All of the listed coverages and requirements must be explicitly stated on the Certificate of Insurance.
Areas of Coverage | Requirements | Notes |
|---|---|---|
Professional Liability, Errors & Omissions | $1M minimum per occurrence | ✦- These insurance coverages are applicable to any organizations that are mentoring, engaging with the public, offering advice, or learning. |
Commercial General Liability Insurance | $1M minimum per occurrence; General Aggregate limits minimum of $3M If Umbrella/Excess coverage is obtained, this can be added to the General Liability Limits to meet the BCYF requirements. For example: Commercial General Liability $1M Per Occurrence/$2M Aggregate Limit Commercial Excess/Umbrella $1M Per Occurrence/$1M Aggregate Limit Total Available Coverage $2M Per Occurrence/$3M Aggregate Limit BCYF Requirement = $1M/$3M | Must include BCYF and City as additional insured. BCYF 10 E North Ave.; Suite 5 Baltimore, MD 21202 Mayor and City Council of Baltimore Office of Risk Management - Central Bureau of Investigation 7 E Redwood St., 6th Floor Baltimore, MD 21202 |
Workers Compensation Coverage | At levels required by State and any federal requirements. | A signed affidavit on the Grantee’s letterhead may be submitted if there are no employees and WC is not required **See below |
Blanket Crime Insurance | At levels of not less than the total amount of funding you are receiving from BCYF, up to $1M. | Ensure Blanket Crime includes employee theft and forgery or alteration and that all components are explicitly stated on the COI. BCYF and the City must be included as loss payee to insure against any and all loss of funds provided hereunder to misuse, mismanagement, and/or theft of funds by BCYF and the City, its officers, employees, agents, or assignees. BCYF 10 E North Ave.; Suite 5 Baltimore, MD 21202 Mayor and City Council of Baltimore Office of Risk Management - Central Bureau of Investigation 7 E Redwood St., 6th Floor Baltimore, MD 21202 |
Insurance Company Requirements | According to AM Best, the insurance company(ies) must:
| The insurer must be licensed/approved to do business in the State of Maryland. |
Include all contractors as insured under its policies | Insurance coverages held by contractors and grantees must be subject to all requirements herein. | Or furnish a separate Certificate of Insurance from each contractor. |
BCYF Additional Requirements | ||
Abuse and Molestation Coverage | $100,000 minimum per occurrence | |
**Maryland only allows worker’s compensation for businesses with employees. For Grantees with only consultants: BCYF recommends requiring consultants to obtain their own worker’s compensation insurance and provide proof of such, even if they are sole proprietors. It is fairly inexpensive and covers the grantee if the contractor is injured while working for them. | ||