Each tenant company is required to obtain, maintain and provide proof of insurance for its office space and equipment. Proof of insurance must be provided to IOWA Research Park office before you move in or at a time approved by the Manager of Facilities Services. (See your lease for individual company requirements.)
LESSOR and LESSEE shall each be responsible to protect its respective property interests.
LESSEE shall purchase and maintain liability insurance with a minimum limit of not less than One Million Dollars ($1,000,000) per occurrence and Two Million Dollars ($2,000,000) annual aggregate. This policy shall be endorsed to include the State of Iowa; University of Iowa; and Board of Regents, State of Iowa as an additional insured. Policy shall contain a severability of interests provision.
Applicable Workers Compensation insurance to cover liability imposed by State statutes. Employer’s Liability insurance of no less than $100,000 each employee and $100,000 each accident.
LESSEE shall provide to LESSOR a certificate of insurance evidencing above insurance with the signed Lease and annually.
All required insurance policies shall be issued by insurance companies authorized to engage in the insurance business in the State of Iowa, with an A.M. Best’s rating of A-, VII or better. These policies shall be primary coverage.