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HomeMy WebLinkAboutExhibit 5ATTACHMENT D Insurance Requirements Draft 06-901 and 06-1021 1 9 INSURANCE REQUIREMENTS FOR A CERTIFICATE OF INSURANCE (RENOVATION WORK AT DORSEY LIBRARY) I. Commercial General Liability A. Limits of Liability Bodily Injury and Property Damage Liability Each Occurrence $1,000,000 General Aggregate Limit $ 2,000,000 Products/Completed Operations $ 1,000,000 Personal and Advertising Injury $1,000,000 B. Endorsements Required City of Miami included as an Additional Insured Employees included as insured Independent Contractors Coverage Personal Injury Contractual Liability Waiver of Subrogation Premises/Operations Care, Custody and Control Exclusion Removed Explosion, Collapse and Underground Hazard Incidental Medical Malpractice Loading and Unloading Mobile Equipment (Contractors Equipment) whether owned, leased, Borrowed, or rented by the contractor or employees of the contractor I; II. Business Automobile Liability A. Limits of Liability Bodily Injury and Property Damage Liability Combined Single Lirnit Any Auto Including Hired, Borrowed or Non -Owned Autos Any One Accident $ 1,000,000 B. Endorsements Required City of Miami included as an Additional Insured Employees included as insured ITT. Worker's Compensation Limits of Liability Statutory -State of Florida Waiver of subrogation IV. Employer's Liability A. Limits of Liability $500,000 for bodily injury caused by an accident, each accident. $500,000 for bodily injury caused by disease, each employee $500,000 for bodily injury caused by disease, policy limit V. Owners Contractors Protective A. Limits of Liability Bodily Injury and Property Damage Liability Combined Single Limit Each Occurrence $ 1,000,000 Aggregate $ 1,000,000 VI. Payment and Performance Bond VIII. Builders' Risk Causes of Loss: All Risk -Specific Coverage Project Location Valuation: Replacement Cost Deductible: $2,500 All other Perils 5% maximum on Wind City of Miami and Model City Trust 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, re - 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 event 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. The above policies shall provide the City of Miami with written notice of cancellation or material change from the insurer not less than (30) days prior 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 no less than "A" as to management, and no less than "Class V" as to Financial Strength, by the latest edition of Best's Insurance Guide, published by A.M. Best Company, Oldwick, New Jersey, or its equivalent. All policies and /or certificates of insurance are subject to review and verification by Risk Management prior to insurance approval.