Insurance Services for Associated Entities

Solicitation Number

68-SOIS1024

Department

Status Reason

Open

Opening Date

2024-10-29T15:00:00.0000000

Posted Date

2024-10-08T20:13:18.0000000Z

Commodity Code

Mandatory Conference/Site Visit

Special Instructions

Description

The University of North Carolina (UNC) System encourages the establishment of private organizations, known as Associated Entities, to support the constituent institutions and other units of the University. Associated Entities engage in activities that are critical to and aligned with the mission, goals, and objectives of the constituent institutions and institutional units with which they are associated. Activities undertaken by Associated Entities include fundraising, provision of services to students and campus organizations, research support, and collaborating with organizations outside the University System to promote and support initiatives and activities that are related to the University’s mission of teaching, research, and service. Associated Entities and the constituent institutions and units of the University with which they are associated rely on the dedicated guidance, support, and leadership of Associated Entity directors, officers, donors, and volunteers to pursue shared goals and objectives. Per the Regulation on Required Elements of a University-Associated Entity Relationship, the governing body of an Associated Entity, working in collaboration with the Approving Institution’s insurance and risk management personnel, UNC System risk management personnel, or approved vendors, should evaluate the potential risks arising from the operation of the Associated Entity and obtain commercially reasonable amounts of general liability and directors’/officers’ insurance.

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