SECTION 5: INSURANCE REQUIREMENTS

SECTION 5: INSURANCE REQUIREMENTS
 

The following insurance shall be furnished by the successful Developer Partner:

Furnish Certificate of Insurance in duplicate, with The New Bern Housing Authority, NC Housing Authority Project Name and Number stated on the Certificates and submit prior to the beginning of on-site operations. The coverage and amounts below are minimum requirements and do not establish limits to the Developer Partner's liability. Other coverage and higher limits may be provided at the Developer Partner's option and expense.

1)  STATUTORY WORKERS' COMPENSATION EMPLOYERS' LIABILITY (not less than $100,000.00). Broad Form All States coverage.

2) COMMERCIAL GENERAL LIABILITY. To be provided on an "occurrence" basis, with coverage to include explosion, collapse and underground hazards (XCU). Blanket Contractual, Products, Independent Contractors, Completed Operations, Personal injury and Employees as additional insured.

BODILY INJURY LIMITS

$1,000,000.00 each occurrence

$1,000,000.00 aggregate*

PROPERPTY DAMAGE LIMITS

$1,000,000.00 each occurrence

$1,000,000.00 aggregate*

PERSONAL INJURY LIMITS

$1,000,000.00 each occurrence

$1,000,000.00 aggregate*

(*) Aggregate shall apply to this project only aggregate not to include other projects and must be identified as such on the Certificate on Insurance.

3)  AUTOMOBILE LIABILITY, including owned, non-owned, and hired automobiles. Automobiles of subcontractors and material suppliers must meet the same insurance requirements.

BODILY INJURY LIMITS                     PROPERTY DAMAGE LIMITS

$500,000.00 each person                $250,000.00 each occurrence

$500,000.00 each person

4) EXCESS UMBRELLA LIABILITY, to provide insurance in excess of Employers' Liability, Commercial General Liability, and Automobile Liability policies required hereunder.

$2,000,000.00 each occurrence and $2,000,000.00 general policy aggregate.

5) The Contractor shall be responsible for and maintain property insurance coverage at his option and expense to cover tools, equipment, etc., owned or rented, the capital value of which is not included in the cost of the work.

6) All policies are to be written by insurance companies licensed to do business in the state in which the work is performed and be acceptable to The New Bern Housing Authority, NC.

7) All Certificates are to contain substantially the following Statement: "The insurance covered by this Certificate shall not be canceled, nor materially altered, except after sixty (60) days prior written notice to The New Bern Housing Authority, NC, Attn: Procurement and Contracts Department".

8)  Commercial General Liability insurance under a "claims-made" policy is not acceptable. Coverage must be provided on and "occurrence" basis.

9) The New Bern Housing Authority, NC, its Board Members, officers, employees, and agents are each to be named as an "Additional Insured" on all liability insurance.