ATTACHMENT_2_-_Insurance_Requirements.pdf

ATTACHMENT 2

INSURANCE REQUIREMENTS

A. REQUIREMENTS:

1. Firm shall obtain, maintain, and pay for insurance in the categories listed in the insurance schedule. The insurance coverage in each category shall meet or exceed the minimum limits set forth in the insurance schedule. The College, depending on scope of work, may increase limits or types of coverage at any time based on the recommendations of the College’s Risk Management Office.

a. The insurance shall cover the Firm’s entire operation while under agreement with the College and shall be effective throughout the term of any agreement resulting from award of this Solicitation. It is not the intent of this schedule to limit the types of insurance otherwise required by this Solicitation or that the Firm may desire to obtain. Proof of insurance at the required levels in this Solicitation must be submitted with the Solicitation response.

2. At the time of Solicitation award and prior to or concomitant with agreement execution, the Firm shall submit a Certificate of Insurance (COI) at the required levels as indicated below.

Insurance Schedule Minimum Limits:

a. General Liability (GL): Insurance of not less than $1,000,000 for each occurrence.

b. Workers’ Compensation (WC): Insurance in accordance with statutory requirements.

c. Employers Liability Insurance: Insurance of not less than $1,000,000.

d. Professional Liability (F): Insurance of not less than $2,000,000.

B. CONDITIONS:

1. In order to assure that Valencia has been properly afforded additional insured status on the Firms policy or policies, the following statement, or one similar, must be on the Certificate of Insurance (COI) or an endorsement. “Valencia College District Board of Trustees and Valencia Foundation are included as additional insured with respect to the required coverages” and reference the corresponding Solicitation or Agreement number. The Address for “Certificate Holder” should be as follows:

Valencia College, District Board of Trustees Valencia Foundation

P.O. Box 3028 Orlando, FL 32802

2. Contractor must contact the Office of Contracts and Records, at ljohnston@valenciacollege.edu

a. Prior to finalizing the Agreement, associated with this Solicitation and provide a current copy of their COI, for all policies.

b. In the event of any change in insurance coverage, including but not limited to cancellation of any policy, immediately and in no case more than three (3) business days after becoming aware of such change.

3. The insurance shall provide that no material alteration or cancellation, including expiration and non-renewal, shall be effective until thirty (30) days after receipt of notice to the Office of Contracts and Records.

4. The College must be exempt from, and in no way be liable for, any sums of money, which may represent a deductible in any insurance policy. The payment of such deductible shall be the sole responsibility of the Firm and/or sub-firm that obtained the insurance.

5. Policies other than Worker’s Compensation shall be issued only by companies authorized by maintaining certificates of authority issued to the companies by the Department of Insurance of the State of Florida to conduct business in the State of Florida.

6. All policies must be acceptable in the sole discretion of the College. Policies for Worker’s Compensation may be issued by companies authorized as a group self-insurer by Florida Statute 440.57.

mailto:ljohnston@valenciacollege.edu