Insurance_Requirements.pdf

This is an Insurance Requirements document for the City of New Smyrna Beach's Parking Guidance System (PGS) Rebid project in Florida. The document establishes mandatory insurance coverage requirements that all qualified contractors must maintain throughout the contract performance period. Contractors are required to obtain and maintain comprehensive general liability insurance, automobile liability insurance, and workers' compensation insurance meeting specified minimum coverage limits. The insurance requirements apply to all phases of the project, from initial furnishing and installation of the parking guidance system through completion and potential warranty periods.

All insurance policies must name the City of New Smyrna Beach as an additional insured and include waiver of subrogation provisions benefiting the City. Contractors must provide certificates of insurance prior to commencing any work and maintain continuous coverage throughout contract performance. Insurance carriers must be rated A- VII or better by A.M. Best and licensed to do business in Florida. The requirements ensure that the contractor maintains financial responsibility for potential liabilities arising from equipment installation, system operation, and any damages or injuries that may occur during project execution, protecting the City from financial exposure related to the parking guidance system implementation.