Alliant's Public Entity Group maintains the Insurance Requirements in Contracts (IRIC) Manual as a service to the public sector and PRISM members. The manual is reviewed annually for any updates or changes to suggested insurance requirements. The newly released Version 2025.1 includes the following modifications:
- Multiple Coverage Contract Endorsements: A note has been added to Chapter 2 regarding new multiple coverage contract endorsements that are being found in the marketplace. These combine previously individual endorsements into single omnibus endorsements. Since these are non-standard and vary by insurer, they should be carefully reviewed to ensure they provide coverage “at least as broad as” standard ISO endorsements.
- Cyber Risks: In Chapter 4, updates clarify insurance requirements for IT agreements, with added emphasis on Technology Errors & Omissions coverage and how it differs from Cyber Liability. Pixel Tracking Exclusions have also been added to the Emerging Risks section of the IRIC.
- Parks & Recreation Risks: In Chapter 7, clarifications highlight that parks & recreation departments operating daycares, camps, or recreational activities should ensure they have adequate Sexual Abuse and Molestation (SAM) coverage, as risks in these settings can be similar to those faced by schools.
- Student Placement Agreements: In Chapter 8, the section on student placement agreements has been expanded. These agreements, which allow students to gain practicum experience with host organizations, often lead to complex negotiations over insurance requirements and indemnification. Updates provide guidance on how schools and host organizations should address these issues.
For questions or additional information, contact Dan Howell, Senior Executive Vice President, Alliant Insurance Services, Inc.