Exhibit_C_-_Required_Types_and_Limits_of_Insurance_Chart.pdf
PDF 153 KB Posted
- Attached to
- Banking Services
- Solicitation number
- 25-P-131TF
- Issued by
- Volusia County, Florida
About this file
This document is an Insurance Requirements Chart (Exhibit C) for the County of Volusia, specifically detailing insurance specifications for a financial institution (referred to as "the Bank"). The chart mandates comprehensive insurance coverage requirements, including Workers' Compensation, Commercial General Liability, Motor Vehicle Liability, Professional Liability, Cyber Insurance, and a Financial Institution Bond. The insurance policies must be purchased and maintained by the Bank throughout the agreement term, with specific coverage limits for each insurance type.
The insurance requirements include a $1,000,000 Combined Single Limit for Motor Vehicle Liability, $5,000,000 for Professional Liability, $2,000,000 for Cyber Insurance, and a $10,000,000 Financial Institution Bond (both per occurrence and aggregate). Additional specifications require a waiver of subrogation, county additional insured status, and detailed coverage symbol requirements for auto insurance. The Bank must provide thirty (30) days written notice to the Certificate Holder (Volusia County Purchasing & Contracts Division) in the event of insurance cancellation, with the certificate to be sent to a specified address in DeLand, Florida.
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Text version
25-P-131TF INSURANCE REQUIREMENTS CHART EXHIBIT C
1. Required Types and Limits of Insurance Chart
The Bank shall purchase and maintain at its own expense, during the term of the Agreement, the types and amounts of insurance with limits no less than those shown below, in the form and from companies satisfactory to the County are detailed in Figure 1 below. Figure 1 is a listing and general summary of insurance policies required and is not intended to be comprehensive as to the requirements of each specific policy. Contractors shall review the additional requirements in this Exhibit C and ensure that the insurance policies comply with the specific terms and conditions therein.
Figure 1:
TYPE OF INSURANCE
WORKERS’ COMPENSATION
Waiver of Subrogation Florida Statutory Coverage
COMMERCIAL GENERAL LIABILITY
Occurrence Basis Waiver of Subrogation County Additional Insured
EACH OCCURRENCE $ 1,000,000
GENERAL
AGGREGATE
$ 2,000,000
Premises-Operations $ 1,000,000
Products & Completed Ops $ 1,000,000
Personal & Adv Inj. $ 1,000,000 Fire Damage $
MOTOR VEHICLE LIABILITY
Any Auto
Combined Single Limit $ 1,000,000
Bodily Injury (Per person)
Bodily Injury (Per accident)
Property Damage (Per Accident) $
Note: If Bank does not have Coverage Symbol 1 (Any Auto), Bank is limited to use of covered autos only. If Bank does not have Coverage Symbol 1, Bank shall have Coverage Symbol 7 (Scheduled Autos), Coverage Symbol 8 (Hired Autos), and Coverage Symbol 9 (Non-Owned Autos).
PROFESSIONAL LIABILITY
$ 5,000,000 per Claim $ 5,000,000 Aggregate
CYBER INSURANCE
Cyber & Incident Response Network and Information Security & Privacy Liability Third Party Privacy Breach Management Costs
$ 2,000,000 each Claim $ 2,000,000 Aggregate
25-P-131TF INSURANCE REQUIREMENTS CHART EXHIBIT C
FINANCIAL INSTITUTION BOND
$10,000,000 Occurrence $10,000,000 Aggregate
CANCELLATION: Thirty (30) days written notice of cancellation is required to the Certificate Holder:
Certificate Holder:
County of Volusia Purchasing & Contracts Division 123 W. Indiana Avenue, Room 302 DeLand, FL 32720
ATTN: Tabatha Freedman, Senior Procurement Analyst
Risk Management Division
1. Required Types and Limits of Insurance Chart
File details come from the government source that posted it. Updated .