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Insurance Requirements for Capital Improvement Agreements
The Contractor agrees to procure, pay the entire premium for and maintain throughout the term of this Agreement, insurance in amounts and types specified by the College and as may be mandated and increased from time to time.  The Contractor agrees to require that all of its subcontractors, in connection with work performed for the Contractor related to this Agreement, procure, pay the entire premium for and maintain throughout the term of this Agreement insurance in amounts and types equal to that specified by the College for the Contractor.  Unless otherwise specified by the College and agreed to by the Contractor, in writing, such insurance shall be as follows:

 

Commercial General Liability insurance, including contractual liability coverage, in an amount not less than Two Million Dollars ($2,000,000.00) per occurrence for bodily injury and Two Million Dollars ($2,000,000.00) per occurrence for property damage.

 

Automobile Liability insurane (if any vehicles are used by the Contractor in the performance of this Agreement) in an amount not less than Five Hundred Thousand Dollars ($500,000.00 ) per occurrence, per accident, for bodility injury and not less than One Hundred Thousand Dollars ($100,000.00) for property damage per occurrence.

 

Workers' Compensation and Employers' Liability insurance in compliance with all applicable New York State laws and regulations and Disability Benefits insurance, if required by law.  Contractor shall furnish to the College, prior to its execution of this Agreement, the documentation required by the State of New York Workers' Compensation Board of coverage or exemption from coverage pursuant to §§57 and 220 of the Workers' Compensation Law.  In accordance with General Municipal Law §108, this Agreement shall be void and of no effect unless the Contractor shall provide and maintain coverage during the term of this Agreement for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

 

Professional Liability insurance in an amount not less than Two Million Dollars ($2,000,000.00) on either a per occurrence of claims made coverage basis.  (Delete if not applicable)

 

Owners and Contractors' Protective Liability (OCP) insurance in an amount not less than One Million Dollars ($1,000,000.00) combined single limit for bodily injury and property damage per occurrence and covering the liability of the College, all its employees (including but not limited to the Vice President for Business and Financial Affairs), the County of Suffolk and all its employees, both officially and personnally, with respect to all work under this Agreement performed by Contractor or by its subcontractors, including omissions or supervisory acts of the College, its employees, the County of Suffolk or its employees.

 

"All Risk" Builder's Risk Property insurance upon the entire projecton which the work of the Agreement is to be done to One Hundred Percent (100%) of the Completed value thereof.