16-Insurance Requirements, T-P Custodian Safekeeping Services (Group 4), GEN2131264P1.pdf
PDF 187 KB Posted
- Attached to
- Master Banking Services
- Solicitation number
- GEN2131264P1
- Issued by
- Broward County, Florida
About this file
This is a Minimum Insurance Requirements document issued by Broward County's Finance and Administrative Services Department, Risk Management Division, for the Master Banking Services contract opportunity, specifically for Group 4: Third-Party Custodian/Safekeeping Services. The document establishes comprehensive insurance coverage mandates that vendors must maintain throughout the contract performance period and for three years following completion of claims-made policies. Required coverage includes General Liability with minimum limits of $1,000,000 per occurrence and $2,000,000 aggregate; Auto Liability with combined bodily injury and property damage limits of $500,000; Workers' Compensation at statutory limits; Employers Liability of $100,000 per accident; Professional Liability (Errors & Omissions) with $3,000,000 per claim limits and a maximum deductible of $100,000; Cyber Liability with $5,000,000 per claim limits and a maximum deductible of $100,000; and Crime and Fidelity insurance with $5,000,000 per claim limits.
Broward County must be named as an additional insured on all liability policies, designated as the loss payee for Crime and Fidelity coverage, and provided with primary coverage that requires no contribution from the County, self-insurance, or otherwise. Contractors must provide a waiver of subrogation in favor of Broward County and furnish 30 days' written notice of policy cancellation or 10 days' notice for non-payment cancellation. The certificate holder address is Broward County, 115 South Andrews Avenue, Fort Lauderdale, Florida 33301. Auto Liability coverage may be waived if no driving is required for service performance, and Excess Liability or Umbrella policies may be utilized to supplement minimum liability coverage requirements.
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Text version
MINIMUM INSURANCE REQUIREMENTS
Project: Third-Party Custodian/Safe Keeping Services Agency: Finance and Administrative Services Department
CERTIFICATE HOLDER:
Broward County 115 South Andrews Avenue Fort Lauderdale, Florida 33301
Risk Management Division
TYPE OF INSURANCE ADDL
INSD
SUBR
WVD
MINIMUM LIABILITY LIMITS
Each Occurrence Aggregate
GENERAL LIABILITY - Broad form Commercial General Liability Premises–Operations XCU Explosion/Collapse/Underground Products/Completed Operations Hazard Contractual Insurance Broad Form Property Damage Independent Contractors Personal Injury
Per Occurrence or Claims-Made:
Per Occurrence Claims-Made
Gen’l Aggregate Limit Applies per:
Project Policy Loc. Other _______
Bodily Injury
Property Damage
Combined Bodily Injury and Property Damage
$1,000,000 $2,000,000
Personal Injury
Products & Completed Operations
AUTO LIABILITY
Comprehensive Form Owned Hired Non-owned Any Auto, If applicable
Note: May be waived if no driving will be done in performance of services/project.
Bodily Injury (each person)
Bodily Injury (each accident)
Property Damage
Combined Bodily Injury and Property Damage
$500,000
EXCESS LIABILITY / UMBRELLA
Per Occurrence or Claims-Made:
Per Occurrence Claims-Made Note: May be used to supplement minimum liability coverage requirements.
WORKERS’ COMPENSATION
Note: U.S. Longshoremen & Harbor Workers’ Act & Jones Act is required for any activities on or about navigable water.
N/A Each Accident
STATUTORY LIMITS
EMPLOYERS LIABILITY Each Accident $100,000
PROFESSIONAL LIABILITY (ERRORS &
OMISSIONS)
N/A Each Claim: $3,000,000
*Maximum Deductible: $100,000
CYBER LIABILITY
N/A Each Claim: $5,000,000
*Maximum Deductible: $100,000
CRIME AND FIDELITY
Broward County must be a Loss Payee.
Each Claim $5,000,000
Description of Operations: Broward County is additional insured for liability. Insured’s insurance shall provide primary coverage and shall not require contribution from the County, self-insurance or otherwise. Waiver of subrogation applies in favor of Broward County. County shall be provided 30 days’ written notice of cancellation, 10 days’ notice of cancellation for non-payment. For Claims-Made policies insurance must be maintained and evidence of insurance must be provided for at least three (3) years after completion of the contract of work.
Digitally signed by
COLLEEN POUNALL
Date: 2026.03.05 16:25:22 -05'00'
File details come from the government source that posted it. Updated .