§ 151.78  INSURANCE COVERAGE REQUIREMENTS.
   (A)   Automobile liability. Bodily injury and property damage liability covering all owned, non-owned and hired automobiles for limits of not less than $1,000,000 bodily injury each person, each accident and $1,000,000 property damage, or $1,000,000 combined single limit each occurrence/aggregate.
   (B)   Commercial general liability. Bodily injury and property damage liability as shall protect the contractor and any subcontractor performing work under this contract from claims of bodily injury or property damage which arise from operation of this contract whether such operations are performed by contractor, any subcontractor or anyone directly or indirectly employed by either. The amounts of such insurance shall not be less than $1,000,000 bodily injury each occurrence/aggregate and $1,000,000 property damage each occurrence/aggregate, or $1,000,000 bodily injury and property damage combined single limits each occurrence/aggregate. This insurance shall include coverage for products/completed operation, personal injury liability and contractual liability assumed under the indemnity provision of this contract.
   (C)   Workers' compensation insurance. Meet the statutory requirements of the State of North Carolina and Employers Liability - $100,000 per accident limit, $500,000 disease per policy limit, $100,000 disease each employee limit, providing coverage for employees and owners.
   (D)   The town shall be named as an additional insured and the statement should read: "Town of Laurel Park is to be added as an additional insured as evidenced by an endorsement attached to this certificate." Only "A" rated insurance companies will be acceptable to the town. In the event the contractor fails to maintain and keep in force the insurance herein required, the town reserves the right to cancel and terminate the contract without notice. The policies shall not be canceled without 90 days prior notice to the town.
(Ord. passed 12-15-2020; Ord. passed 9-21-2021)