Appendix B2.pdf

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Attached to
Alaska Municipal Bond Bank Authority- RFP 2025-0400-0395- Financial Advisory Service
Solicitation number
2025-0400-0395
Issued by
Anchorage Municipality, Alaska

About this file

Appendix B2 is a document detailing indemnity and insurance requirements for a state contract, specifically related to Alaska state government contracting procedures. The document outlines comprehensive insurance and indemnification obligations for contractors, requiring multiple types of insurance coverage including Workers' Compensation, Commercial General Liability, Commercial Automobile Liability, and Professional Liability Insurance.

The insurance requirements are structured with varying coverage limits based on the contract amount, ranging from $300,000 per claim for contracts under $100,000 to requiring consultation with Risk Management for contracts over $1,000,000. Key provisions include mandatory insurance policies that must be purchased by the contractor at their own expense, with certificates of insurance required to be submitted to the contracting officer prior to beginning work. The document emphasizes that failure to provide satisfactory insurance evidence or policy lapses can result in contract termination, and all insurance policies must comply with Alaska state insurance regulations.

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APPENDIX B2

INDEMNITY AND INSURANCE

Article 1. Indemnification

The contractor shall indemnify, hold harmless, and defend the contracting agency from and against any claim of, or liability for error, omission or negligent act of the contractor under this agreement. The contractor shall not be required to indemnify the contracting agency for a claim of, or liability for, the independent negligence of the contracting agency. If there is a claim of, or liability for, the joint negligent error or omission of the contractor and the independent negligence of the contracting agency, the indemnification and hold harmless obligation shall be apportioned on a comparative fault basis. “Contractor” and “contracting agency”, as used within this and the following article, include the employees, agents and other contractors who are directly responsible, respectively, to each. The term “independent negligence” is negligence other than in the contracting agency’s selection, administration, monitoring, or controlling of the contractor and in approving or accepting the contractor’s work.

Article 2. Insurance

Without limiting contractor's indemnification, it is agreed that contractor shall purchase at its own expense and maintain in force at all times during the performance of services under this agreement the following policies of insurance. Where specific limits are shown, it is understood that they shall be the minimum acceptable limits. If the contractor's policy contains higher limits, the state shall be entitled to coverage to the extent of such higher limits. Certificates of Insurance must be furnished to the contracting officer prior to beginning work and must provide for a notice of cancellation, non-renewal, or material change of conditions in accordance with policy provisions. Failure to furnish satisfactory evidence of insurance or lapse of the policy is a material breach of this contract and shall be grounds for termination of the contractor's services. All insurance policies shall comply with and be issued by insurers licensed to transact the business of insurance under AS 21.

2.1 Workers' Compensation Insurance: The Contractor shall provide and maintain, for all employees engaged in work under this contract, coverage as required by AS 23.30.045, and; where applicable, any other statutory obligations including but not limited to Federal U.S.L. & H. and Jones Act requirements. The policy must waive subrogation against the State.

2.2 Commercial General Liability Insurance: covering all business premises and operations used by the Contractor in the performance of services under this agreement with minimum coverage limits of $300,000 combined single limit per claim.

2.3 Commercial Automobile Liability Insurance: covering all vehicles used by the Contractor in the performance of services under this agreement with minimum coverage limits of $300,000 combined single limit per claim.

2.4 Professional Liability Insurance: covering all errors, omissions or negligent acts in the performance of professional services under this agreement. Limits required per the following schedule:

Contract Amount Minimum Required Limits

Under $100,000 $300,000 per Claim / Annual Aggregate $100,000-$499,999 $500,000 per Claim / Annual Aggregate $500,000-$999,999 $1,000,000 per Claim / Annual Aggregate $1,000,000 or over Refer to Risk Management

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