INSURANCE REQUIREMENTS.pdf

INSURANCE REQUIREMENTS

SECTION 1.0 – REQUIREMENTS FOR ALL SERVICE PROVIDERS

All Service Providers must:

A. Provide Customer with evidence of the following minimum insurance requirements. In no way do these minimum requirements limit the liability assumed elsewhere in this agreement.

B. Provide a COI and all required endorsements evidencing Service Provider’s insurance prior to the earlier of the commencement date of their contract or the date Service Provider is provided access to the Premises for any reason, and upon renewals at least ten (10) days prior to the expiration of the insurance coverage. The COI shall include deductibles, self-insured retentions and retroactive dates.

C. Add the appropriate Ownership Entity from the contract as Certificate Holder to the COI.

D. Add the appropriate Ownership Entity as an additional insured on Service Provider’s insurance policies when such insurance is required, including:

▪ General Liability

▪ Automobile Liability

▪ Umbrella Liability (or indicate coverage is “follow form”)

▪ Information Security and Privacy

▪ Pollution Liability (if applicable), and

▪ Garage Keepers Legal Liability (if applicable)

E. Confirm a Waiver of Subrogation in favor of Customer on Service Provider’s insurance policies when such insurance is required (can be validated on COI if included in written contract), including:

▪ General Liability

▪ Automobile Liability

▪ Umbrella Liability

▪ Information Security and Privacy

▪ Employers’ Liability

▪ Pollution Liability (if applicable), and

▪ Garage Keepers Legal Liability (if applicable)

F. Include an endorsement that shall give the appropriate Ownership Entity and its designees at least ten (10) days advance written notice of any change, cancellation, termination or lapse of insurance coverage.

G. Ensure that their insurance shall have, according to A.M. Best Insurance Guide, a Best’s rating no less than A- and a Financial Size Category no less than VII.

H. To the extent that Service Provider employs, utilizes or contracts with subcontractors and/or independent contractors for some or all goods and services to be provided, require such subcontractors and/or independent contractors to comply with the same minimum insurance requirements as set forth in this document.

All Service Providers must maintain the following insurance coverages:

I. Commercial General Liability:

▪ $1,000,000 Per Occurrence / $1,000,000 Aggregate

▪ ISO Form CG 00 01 04 13 unendorsed or equivalent

Jamie.Garcia Highlight

Jamie.Garcia Highlight

▪ Customer as Additional Insured – Form ISO CG 20 101001 or equivalent

▪ Customer as Additional Insured: Completed Operations – Form CG 20 371001 or equivalent

▪ Must have Products & Completed Operations Coverage

▪ Minimum 6 Years completed operations

▪ Named insured cross liability and severability of interest

▪ Contractual liability coverage must be included

▪ No exclusions for explosion, collapse or underground

▪ For apartment or multifamily locations, there should be no exclusion or limitation for multifamily work, unless approved by Customer

J. Automobile Liability:

▪ $1,000,000 Combined Single Limit

▪ Must have Owned, Hired and Non-Owned vehicle coverage

▪ If there are no Owned vehicles, must have Hired and Non-Owned vehicle coverage

▪ Confirmation of Owned/Non-Owned vehicles to be included in the Notes section of

Contract Cover Form (CCF)

K. Umbrella:

▪ $1,000,000 Per Occurrence / $1,000,000 Aggregate

▪ Underlying policies must include General Liability, Auto Liability and Employer’s

Liability

L. Worker’s Compensation:

▪ Statutory Limits

M. Employer’s Liability:

▪ $1,000,000 Each Accident for Bodily Injury / $1,000,000 Each Employee Bodily Injury by Disease / $1,000,000 Policy Limit by Disease

Jamie.Garcia Highlight

Jamie.Garcia Highlight

Jamie.Garcia Highlight

SECTION 2.0 – ADDITIONAL INSURANCE REQUIREMENTS

In addition to the insurance requirements outlined in Section 1.0 of this Exhibit, additional requirements may be necessary based on the level of risk associated with the Service Provider. The Additional Insurance

Requirements that are applicable to the Service Provider are defined in Section 11 of this Service

Agreement.

The full list of Additional Insurance Requirements is outlined below. Refer to Section 11 of this Service

Agreement to identify what additional requirements apply.

N. Commercial General Liability:

▪ Limit as defined in Term I of Section 1.0 above, shall have a Per Project Aggregate Limit

O. Commercial General Liability:

▪ Commercial General Liability as defined in Term I of Section 1.0 above, shall contain

Liquor Liability or a stand-alone Liquor Liability policy shall be in place (only if alcoholic beverages are served) with a $1,000,000 Per Occurrence and Claim

P. Umbrella:

▪ Limit as defined in Term K of Section 1.0 above, shall be increased to $2,000,000 Per

Occurrence / $2,000,000 Aggregate

Q. Umbrella:

▪ Limit as defined in Term K of Section 1.0 above, shall be increased to $5,000,000 Per

Occurrence / $5,000,000 Aggregate

R. Service Provider shall maintain Professional Liability coverage:

▪ $1,000,000 Per Occurrence/$1,000,000 Aggregate for all claims each policy year

▪ Deductible shall not exceed $100,000

▪ If written on a claims-made basis, and a retroactive date is included, such retroactive date shall be prior to the date the contract is executed

▪ The policy shall be maintained during the term of the contract and for a period of at least six (6) years after contract completion

▪ No limitation of liability clause shall be included in the contract for less than the insurance limits required

S. Service Provider shall maintain Professional Liability coverage:

▪ 5,000,000 Per Occurrence/$5,000,000 Aggregate for all claims each policy year

▪ Deductible shall not exceed $100,000

▪ If written on a claims-made basis, and a retroactive date is included, such retroactive date shall be prior to the date the contract is executed

▪ The policy shall be maintained during the term of the contract and for a period of at least six (6) years after contract completion

▪ No limitation of liability clause shall be included in the contract for less than the insurance limits required

T. Service Provider shall maintain Contractor’s Pollution Liability Coverage:

▪ $1,000,000 Per Occurrence/$1,000,000 general Aggregate or greater

▪ Pesticide Coverage must be indicated on the COI (only required if pesticides are utilized)

▪ Deductible shall not exceed $100,000

▪ No exclusion or limitation for legionella or mold in the policy

▪ Coverage for owned and non-owned disposal sites, Transportation coverage for loading and unloading

▪ If written on a claims-made basis, and a retroactive date is included, such retroactive date shall be prior to the date the contract is executed

▪ The policy shall be maintained during the term of the contract and for a period of at least six (6) years after contract completion

U. Service Provider shall maintain Contractor’s Pollution Liability Coverage:

▪ $5,000,000 Per Occurrence/$5,000,000 general Aggregate or greater

▪ Coverage shall include Remediation Expenses

▪ Deductible shall not exceed $100,000

▪ No exclusion or limitation for legionella or mold in the policy

▪ Coverage for owned and non-owned disposal sites, Transportation coverage for loading and unloading

▪ If written on a claims-made basis, and a retroactive date is included, such retroactive date shall be prior to the date the contract is executed

The policy shall be maintained during the term of the contract and for a period of at least six (6) years after contract completion

V. Service Provider shall maintain Garage Keepers Legal Liability Coverage (different from Garage

Liability Insurance):

▪ $1,000,000 Per Occurrence and Per Claim

W. Information Security and Privacy Coverage:

▪ Limit as defined in Term O of Section 1.0 above, shall be increased to $2,000,000 Per

Occurrence / $4,000,000 Aggregate

Certificate Holder:

FBI Chicago Partners, LLC

2111 W. Roosevelt Road

Chicago, Il 60608