Reso 2024-3674 - Laserfiche WebLink

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Commercial General Liability Insurance to include Environmental Pollution Insurance coverage providing the specified coverage is acceptable. 13.6. Builder's Risk Insurance. Contractor, prior to notice to proceed or commencement of Work, whichever occurs first, agrees to maintain Builder's Risk insurance with an amended policy period not less than the Contract Time, plus three (3) months, affording coverage to protect the insurable interests of the City, Contractor, sub -contractors, including property acquired under a sales tax incentive program, property in transit, and property on or off -premises, which shall become part of the Work. Coverage shall be written on an All -Risk, Replacement Cost, and Completed Value Form basis in an amount at least equal to one -hundred 100% of the projected completed value of the Work, as well as subsequent modifications of that sum due to Change Orders, with a deductible of not more than $50,000 per claim. 13.7. Additional Insured Endorsement. Contractor agrees to endorse the City as an Additional Insured on the Commercial General Liability with the following Additional ;nsured endorsement, or similar endorsement providing equal or broader Additional Insured coverage, the CG 20 10 07 04 or GC 20 10 04 13 Additional Insured - Owners, Lessees, or Contractors — Scheduled Person or Organization endorsement in combination with the additional endorsement GC 20 37 10 01 or GC 20 37 04 13 Additional Insured — Owners, Lessees, or Contractors — Completed Operations. The name of the organization endorsed as Additional Insured for all endorsements shall read "City of Sunny Isles Beach". 13.8. Waiver of Subrogation. Contractor agrees by entering into this written Contract to a Waiver of Subrogation in favor of the City, Contractor, Sub -Contractors, Architects, or Engineer for each required policy providing coverage during the life of this Contract. When required by the insurer, or should a policy condition not permit the Contractor to enter into a pre -loss Contract to waive subrogation without an endorsement, the Contractor agrees to notify the insurer and request the policy be endorsed with a Waiver of Transfer of Rights of Recovery Against Others, or an equivalent endorsement. This Waiver of Subrogation requirement shall not apply to any policy, which includes a condition that specifically prohibits such an endorsement, or voids coverage should the Contractor enter into such Contract on a pre -loss basis. 13.9. Right to Revise or Resect. Contractor agrees the City reserves the right, but not the obligation, to review or revise any insurance requirement, not limited to limits, coverages and endorsements based on insurance market conditions affecting the availability or affordability of coverage; or changes in the scope of work / specifications affecting the applicability of coverage. Additionally, the City reserves the right, but not the obligation, to review and reject any insurance policies failing to meet the criteria stated herein, or any insurer(s) providing coverage due of its poor financial condition or failure to operating legally in the State of Florida. In such events, City shall provide Contractor written notice of such revisions or rejections. Page 36 of 43 304