3-Insurance.pdf

This is an insurance requirements document for Hudson Valley Community College (HVCC) related to the procurement of an electric panel cargo van. The document outlines mandatory insurance coverage that the vendor must maintain throughout the contract term. The vendor is required to provide comprehensive general liability insurance with minimum limits of $1,000,000 per occurrence and $2,000,000 aggregate, as well as commercial automobile liability insurance with minimum limits of $1,000,000 combined single limit for any owned, hired, or non-owned vehicles used in performance of the contract. Additionally, the vendor must carry workers' compensation insurance in accordance with New York State requirements and maintain property insurance on all equipment and materials provided under the contract.

The insurance requirements specify that all policies must be issued by insurers authorized to do business in New York State and rated A-:VII or better by A.M. Best. The vendor must provide certificates of insurance evidencing the required coverage prior to commencing work and ensure that all policies include a waiver of subrogation in favor of HVCC. The document requires that liability policies name HVCC as an additional insured and include a provision that coverage is primary to any insurance maintained by the college. Failure to maintain the required insurance coverage or to provide proof of such coverage upon demand constitutes grounds for contract termination.