Finding Text
Section 10.1 of Subaward Grant Agreement OH-2023-X01, Required Insurance Coverage, states that a nonprofit organization subrecipient shall maintain a minimum amount of liability insurance of $1,500,000 per occurrence and in the aggregate throughout the project life. During audit testing, I reviewed the Organization's liability insurance policy for coverage limits and noted that the Organization's coverage amount was $1,000,000 per occurrence and in the aggregate which is below the required minimum. The Organization should review insurance policies and increase coverage levels to meet the minimum amounts required by the grant agreement.