Satisfactory Insurance Requirements: For payment to be made in a timely manner the Subcontractor must provide proof of insurance and a current tax ID number. The Subcontractor shall purchase and maintain such insurance as will protect the Contractor from any and all claims which may arise out of the result of the Subcontractor’s operations. Such insurance shall include, but not be limited to Comprehensive General Liability Insurance, Workers Compensation Insurance and Auto Insurance. All insurance shall have such coverage limits as are requested by and acceptable to the Contractor.
Workers compensation insurance is in the amount of $1,000,000. The subcontractor shall name the Contractor as an additional named insured under the general liability section of Subcontractor’s coverage and shall provide the contractor with proof of such coverage prior to the beginning of any work related in any way on a job. The minimum acceptable general liability limit shall be $1,000,000 per occurrence and $2,000,000. Aggregate.