Exhibit_C_-_Required_Types_and_Limits_of_Insurance_Chart.pdf
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- Attached to
- Banking Services
- Solicitation number
- 25-P-131TF
- Issued by
- Volusia County, Florida
About this file
Insurance Requirements Chart Summary
This is an Insurance Requirements Chart (Exhibit C) for Volusia County, Florida's Banking Services RFP #25-P-131TF, detailing mandatory insurance coverage that the selected bank contractor must obtain and maintain throughout the contract term. The chart specifies comprehensive insurance requirements across multiple policy types, including Workers' Compensation with Florida Statutory Coverage and a Waiver of Subrogation; Commercial General Liability with $1,000,000 per occurrence and $2,000,000 general aggregate limits; Motor Vehicle Liability with $1,000,000 combined single limit coverage; Professional Liability with $5,000,000 per claim and $5,000,000 aggregate limits; Cyber Insurance with $2,000,000 each claim and $2,000,000 aggregate coverage; and a Financial Institution Bond of $10,000,000 occurrence and $10,000,000 aggregate. All insurance policies must be obtained on an occurrence basis with the County named as an Additional Insured, and policies must include Waivers of Subrogation where applicable.
The contractor must provide thirty days' written notice of cancellation to the Certificate Holder at the Volusia County Purchasing & Contracts Division, with notices directed to Tabatha Freedman, Senior Procurement Analyst in the Risk Management Division, located at 123 W. Indiana Avenue, Room 302, DeLand, FL 32720. All insurance companies must be satisfactory to the County, and the contractor bears full responsibility for obtaining and maintaining these policies at its own expense throughout the contract duration. The insurance requirements emphasize the County's expectation that the banking partner maintain robust financial protection and risk management coverage appropriate to managing government banking services across multiple constitutional officer accounts and processing significant annual deposit volumes.
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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 .