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HomeMy WebLinkAboutExhibit 5EXHIBIT #i INSURANCE REQUIREMENTS CENTRAL CONTRACTOR PUBLIC FACILITIES & IMPROVEMENTS I. Commercial General Liability A. Limits of Liability Bodily Injury and Property Damage Liability Each Occurrence $1,000,000 General Aggregate Limit 3 2,000,000 Products/Completed Operations $ 1000,000 Persona] and Advertising Injury S1,OOO,000 B. Endorsements Required City of Miami included as an Additional Insured Sub-recipient/agency included as an Additional Insured Employees included as insured Independent Contractors Coverage Contractual Liability Explosion, Collapse and Underground Hazard Loading and Unloading II. Business Automobile Liability A. Limits of Li ability Bodily Injury and Property Damage Liability Combined Single Limit Any Auto/Scheduled Autos $1,000;000 Hired & Non -Owned Autos $1,000,000 B. Endorsements Required City of Miami included as an Additional Insured Sub-recipient/agency included as an Additional Insured III. Worker's Compensation A. Limits of Liability Statutory -State of Florida Waiver of subrogation B. Employer's Liability Limits of Liability $1,000,000 for bodily injury caused by an accident, each accident. $1,000,000 for bodily injury caused by disease, each employee $1,000,000 for bodily injury caused by disease, policy limit V. Umbrella Policy A. Limits of Liability Bodily Injury and Property Damage Liability Each Occurrence $ 1,000;000 Aggregate $ 1,000,000 VI. Payment and Performance Bond- City of Miami and Sub-recipient/agency included as obligees. VII. Builders' Risk Causes of Loss: All Risk -Specific Coverage Project Location Valuation: Replacement Cost Deductible: $2,500 Ail other Perils 5% maximum on Wind City of Miami and Sub-recipient/agency included as .an Additional Insured A. Limit/Value at Location or Site $ B. Coverage Extensions: • Materials, supplies and similar property owned by others for which you are responsible. • Full coverage up to policy limits for equipment breakdown. • Temporary storage/transit coverage. • Full coverage up to policy limits for site preparation, -Fe - excavation, re -preparation and re -grade in the event of a loss. • Fences, scaffolding, construction forms coverage and signs • Valuable papers coverage for blueprints, site plans and similar documents. • Trees, shrubs,, sod, plants while at premises. • Flood, including inundation, rain, seepage and water damage. • Earthquake • Business Interruption • Subsidence • New ordinance or law; reimbursement for any resulting loss of value to the undamaged portion, and required demolition expenses, including construction necessary to repair, rebuild or re -construct damaged parts. • Escalation clause in the evens of a total loss up to 5% of policy limit. • Temporary structures, cribbing and false work built or erected at construction site. • Unintentional errors and omissions in reporting clause • Full coverage up to policy limits for testing including physical loss caused by pneumatic and hydrostatic testing. • Debris Removal. NOTE: CERTIFICATES OF'INSURANCE MUST BE SUBMITTED BY THE GC FOR REVIEW AND APPROVAL PRIOR TO START OF TIME PROTECT • The above policies shall provide the City of Miami with written notice of cancellation or material change from the insurer not less than (30) daysprior to any such cancellation or material change; Companies authorized to do business in the State of Florida, with the following qualifications, shall issue all insurance policies required above: The company must be rated DO less than "A" as to management, and no }ess than "Class V" as to Financial Strength, by the latest edition of .est's.Insuratoce Guide, published by A.M. lest Company, Oldwick, New Jersey, -or its equivalent All policies and for certificates of insurance are subject to review and verification by Risk Management prior to insurance approval.