SAMPLE INSURANCE AGREEMENT - PROFESSIONAL CONSULTANTS
I. Notwithstanding any terms, conditions or provisions, in any other writing between the parties, the consultant hereby agrees to effectuate the naming of the municipality as an unrestricted additional insured on the consultant’s insurance polices, with the exception of workers' compensation and professional liability. If the policy is written on a claims-made basis, the retroactive date must precede the date of the contract
II. The policy naming the municipality as an additional insured shall:
• Purchase an insurance policy from an A.M. Best rated "secured" New York State licensed insurer.
• Contain a 30-day notice of cancellation.
• State that the organization's coverage shall be primary coverage for the Municipality, its Board, employees and volunteers.
• The municipality shall be listed as an additional insured by using endorsement CG 2026 or broader. The certificate must state that this endorsement is being used. If another endorsement is used, a copy shall be included with the certificate of insurance.
III. The consultant agrees to indemnify the municipality for any applicable deductibles.
IV. Required Insurance:
• Commercial General Liability Insurance
$1,000,000 per occurrence/ $2,000,000 aggregate.
• Automobile Liability
$1,000,000 combined single limit for owned, hired and borrowed and non-owned motor vehicles.
• Workers' Compensation and N.Y.S. Disability
Statutory Workers' Compensation, Employers' Liability and N.Y.S. Disability Benefits Insurance for all employees.
• Professional Errors and Omissions Insurance
$1,000,000 per occurrence/ $2,000,000 aggregate for the professional acts of the consultant performed under the contract for the municipality. If written on a “claims-made” basis, the retroactive date must pre-date the inception of the contract or agreement. Coverage shall remain in effect for two years following the completion of work.
• Excess Insurance
On a “Follow-Form” basis, with limits of $3,000,000 each occurrence and aggregate.
• Performance Bond
In an amount representing 100% of the contract price. The municipality shall be named as the Obligee, and an original Power of Attorney, Corporate and Surety Acknowledgements must accompany the bond.
VI. Consultant acknowledges that failure to obtain such insurance on behalf of the municipality constitutes a material breach of contract. The consultant is to provide the municipality with a certificate of insurance, evidencing the above requirements have been met, prior to the commencement of work or use of facilities. The failure of the municipality to object to the contents of the certificate or the absence of same shall not be deemed a waiver of any and all rights held by the municipality.
VII. The municipality is a member/owner of the NY Municipal Insurance Reciprocal (NYMIR). The consultant further acknowledges that the procurement of such insurance as required herein is intended to benefit not only the municipality but also the NYMIR, as the municipality's insurer.
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