I'm in the process of bidding on a state contract. Within the RFP is a statement that says something along these lines.
The Contractor shall maintain Commercial General Liability Insurance with limits sufficient to cover losses resulting from, or arising out of, Contractor action or inaction in the performance of the Contract by the Contractor, its agents, servants, employees, or subcontractors, but no less than a Combined Single Limit for Bodily Injury, Property Damage, and Personal and Advertising Injury Liability of $1,000,000 per occurrence and $3,000,000 aggregate.
The problem is when calling oil insurance companies, they don't seem to have an idea why I need 3M aggregate. One other said they don't write policies for federal contracting. My fear is that I'm telling them too much about my business where they don't want to write a policy. This is a new business and I'm attempting to bid on state contracts. My fear is the state contracts don't require a heavy duty policy, while the federal does. Or maybe I'm wrong?
Based on my research it looks like it should be around 5 to 800 a year for this kind of insurance?
Thanks
The Contractor shall maintain Commercial General Liability Insurance with limits sufficient to cover losses resulting from, or arising out of, Contractor action or inaction in the performance of the Contract by the Contractor, its agents, servants, employees, or subcontractors, but no less than a Combined Single Limit for Bodily Injury, Property Damage, and Personal and Advertising Injury Liability of $1,000,000 per occurrence and $3,000,000 aggregate.
The problem is when calling oil insurance companies, they don't seem to have an idea why I need 3M aggregate. One other said they don't write policies for federal contracting. My fear is that I'm telling them too much about my business where they don't want to write a policy. This is a new business and I'm attempting to bid on state contracts. My fear is the state contracts don't require a heavy duty policy, while the federal does. Or maybe I'm wrong?
Based on my research it looks like it should be around 5 to 800 a year for this kind of insurance?
Thanks
Aucun commentaire:
Enregistrer un commentaire