FDIC Insurance For any deposit accounts you open, the FDIC requires Bank to disclose, and you hereby acknowledge, that deposits held by Evolve Bank & Trust are insured up to $250,000 federal deposit insurance limit, per depositor for each ownership category.
Insured The contractor/renter must be specifically listed as the Insured.
Crime Insurance Contractor shall maintain during the term of the Contract Crime Insurance on a “loss sustained form� or “loss discovered form,� and coverage must include the following: � The policy must allow for reporting of circumstances or incidents that might give rise to future claims. � The policy must include an extended reporting period of no less than one (1) year with respect to events which occurred but were not reported during the term of the policy. � Any warranties required by the Contractor’s insurer as a result of this Contract must be disclosed and complied with. Said insurance shall extend coverage to include the principals (all directors, officers, agents and employees) of the Contractor as a result of this Contract. � The policy shall include coverage for third party fidelity and name “The People of the State of New York, the New York State Office of General Services, any entity authorized by law or regulation to use this Contract as an Authorized User and their officers, agents, and employees� as “Loss Payees� for all third party coverage secured. This requirement applies to both primary and excess liability policies, as applicable. � The policy shall not contain a condition requiring an arrest and conviction. � The policy shall include coverage for computer crime/fraud.
Owner’s Insurance 11.2 Owner’s Right to Carry Out the Work 2.5, 14.2.2 Owner’s Right to Clean Up 6.3 Owner’s Right to Perform Construction and to Award Separate Contracts
Deductibles and Self-Insurance Retentions Any deductibles or self-insured retentions must be declared to and approved by the City. The City may require the Consultant to provide proof of ability to pay losses and related investigation, claims administration and defense expenses within the deductible or self-insured retention. The deductible or self-insured retention may be satisfied by either the named insured or the City.