Common use of Self-Insured Clause in Contracts

Self-Insured. The Contractor may request approval to be self-insured. To request such approval, the Contractor shall: 1) provide DHS with evidence that it is financially solvent and has established financial arrangements (such as a written comprehensive self- insurance program, performance bonds, or fidelity bonds) that will provide DHS with adequate liability protection; 2) show that its ability to process and pay claims adequately, fairly, and in a timely manner is comparable to a commercial insurer; and 3) before signing this contract, obtain from the DHS Deputy Director for Support Services a written statement that DHS has approved the Contractor’s self- insurance and that the Contractor is not required to obtain additional insurance. DHS may include in this statement additional conditions to ensure that the Contractor’s self-insurance is satisfactory to DHS. DHS may deny self-insurance for any reason or withdraw its approval of self-insurance at any time. If the Contractor is approved to be self-insured, the Contractor shall immediately notify DHS at xxx@xxxx.xxx if its financial position or established financial arrangements change in a manner that may negatively impact its ability to process and pay claims comparable to a commercial insurer. DHS may terminate this contract immediately if the Contractor does not provide such notification.

Self-Insured. The Contractor may request approval to be self-insured. To request such approval, the Contractor shall: 1) provide DHS with evidence that it is financially solvent and has established financial arrangements (such as a written comprehensive self- self-insurance program, performance bonds, or fidelity bonds) that will provide DHS with adequate liability protection; 2) show that its ability to process and pay claims adequately, fairly, and in a timely manner is comparable to a commercial insurer; and 3) before signing this contract, obtain from the DHS Deputy Director for Support Services a written statement that DHS has approved the Contractor’s self- self-insurance and that the Contractor is not required to obtain additional insurance. DHS may include in this statement additional conditions to ensure that the Contractor’s self-insurance is satisfactory to DHS. DHS may deny self-insurance for any reason or withdraw its approval of self-insurance at any time. If the Contractor is approved to be self-insured, the Contractor shall immediately notify DHS at xxx@xxxx.xxx if its financial position or established financial arrangements change in a manner that may negatively impact its ability to process and pay claims comparable to a commercial insurer. DHS may terminate this contract immediately if the Contractor does not provide such notification.

Self-Insured. The Contractor may request approval to be self-insured. To request such approval, the Contractor shall: 1) provide DHS with evidence that it is financially solvent and has established financial arrangements (such as a written comprehensive self- self-insurance program, performance bonds, or fidelity bonds) that will provide DHS with adequate liability protection; 2) show that its ability to process and pay claims adequately, fairly, and in a timely manner is comparable to a commercial insurer; and 3) before signing this contract, obtain from the DHS Deputy Director for Support Services a written statement that DHS has approved the Contractor’s self- self-insurance and that the Contractor is not required to obtain additional insurance. DHS may include in this statement additional conditions to ensure that the Contractor’s self-insurance is satisfactory to DHS. DHS may deny self-insurance for any reason or withdraw its approval of self-insurance at any time. If the Contractor is approved to be self-insured, the Contractor shall immediately notify DHS at xxx@xxxx.xxx xxxxxxxxxxxxx@xxxx.xxx if its financial position or established financial arrangements change in a manner that may negatively impact its ability to process and pay claims comparable to a commercial insurer. DHS may terminate this contract immediately if the Contractor does not provide such notification.