Common use of RISK MANAGEMENT REQUIREMENTS Clause in Contracts

RISK MANAGEMENT REQUIREMENTS. The Contractor will provide minimum insurance coverage and limits as per the following: The Contractor will file with the City of Forest Park, Georgia Certificates of Insurance, certifying the required insurance coverage and stating that each policy has been endorsed to provide thirty (30) days’ notice to the City of Forest Park, Georgia in the event that coverage is cancelled, non- renewed or the types of coverage or limits of liability are reduced below those required. All bonds and insurance coverage must be placed with an insurance company approved by City of Forest Park, Georgia Management, admitted to do business in the State of Georgia, and rated Secure (“B+” or better) by A.M. Best Company in the latest edition of Property and Casualty Ratings, or rated by Standard & Poors Insurance Ratings, latest edition as Secure (“BBB” or better). Worker’s Compensation self-insurance for individual Contractors must be approved by the Worker’s Compensation Board, State of Georgia and/or Self-Insurance pools approved by the Insurance Commissioner, State of Georgia. Automobile Liability – Automobile liability coverage for owned, hired and non-owned vehicles in the amount of $500,000 combined single limit. Automobile Liability - Automobile liability coverage for owned, hired and non-owned vehicles in the amount of $1,000,000 combined single limit. maintained for three (3) years following completion of work. maintained for three (3) years following completion of work. $1,000,000 Per Occurrence $1,000,000 Personal and Advertising $50,000 Fire Damage* $5,000 Medical Payments* $1,000,000 General Aggregate $1,000,000 Products/Completed Operations per Occurrence and Aggregate

RISK MANAGEMENT REQUIREMENTS. The Contractor will provide minimum insurance coverage and limits as per the following: The Contractor will file with the City of Forest Park, Georgia Certificates of Insurance, certifying the required insurance coverage and stating that each policy has been endorsed to provide thirty (30) days’ notice to the City of Forest Park, Georgia in the event that coverage is cancelled, non- renewed or the types of coverage or limits of liability are reduced below those required. All bonds and insurance coverage must be placed with an insurance company approved by City of Forest Park, Georgia Management, admitted to do business in the State of Georgia, and rated Secure (“B+” or better) by A.M. Best Company in the latest edition of Property and Casualty Ratings, or rated by Standard & Poors Insurance Ratings, latest edition as Secure (“BBB” or better). Worker’s Compensation self-insurance for individual Contractors must be approved by the Worker’s Compensation Board, State of Georgia and/or Self-Insurance pools approved by the Insurance Commissioner, State of Georgia. Automobile Liability – Automobile liability coverage for owned, hired and non-owned vehicles in the amount of $500,000 combined single limit. Automobile Liability - Automobile liability coverage for owned, hired and non-owned vehicles in the amount of $1,000,000 combined single limit. maintained for three (3) years following completion of work. maintained for three (3) years following completion of work. $1,000,000 Per Occurrence $1,000,000 Personal and Advertising $50,000 Fire Damage* $5,000 Medical Payments* $1,000,000 General Aggregate $1,000,000 Products/Completed Operations per Occurrence and Aggregate