(A) The applicant shall, prior to commencing construction work, file with both the village and the Village Engineer, certificates of insurance showing coverage of all insurance required, signed by the insurance companies or their authorized agents. The certificate of insurance shall provide coverage for their employees, the village and the Village Engineer, and including their respective officers, directors, employees, agents and other consultants, with rated companies and in amounts as noted below. Insurance covering the village and the Village Engineer, as “additional insured” parties shall not be modified by riders that reduce the protection provided the village and the Village Engineers to less than that afforded the applicant and his or her employees.
(B) The applicant shall procure and maintain comprehensive general liability insurance which will provide coverage for the village, the Village Engineer, their officers, employees, agents and consultants from claims which may arise out of or result from the performance of work by anyone directly or indirectly employed by the contractor or subcontractor, or by anyone for whose acts the contractor may be liable. Comprehensive general liability insurance and automobile liability insurance policies shall provide coverage in the amount of $1,000,000 per accident for property damage and $1,000,000 per person and $3,000,000 umbrella liability aggregate, per accident for bodily injury, sickness of disease, or death of any person and provide worker’s compensation insurance in a minimum amount of $100,000.
(C) The policies of insurance mandated by this section shall be furnished by insurers possessing A.M. Best Company ratings of A-(Excellent) or better, and a financial category of IX or greater.
(D) With respect to comprehensive general liability insurance, the insurance shall remain in effect at least until final payment and at all times thereafter when the applicant may be correcting, removing or replacing defective work in accordance with the requirements of this chapter.
(E) Thirty-day written notice to each additional insured shall be required prior to cancellation of any policy required by this section.
(Ord. 808, passed 4-19-2006)