INSURANCE REQUIREMENTS Contractors providing goods, materials, and services for the Village shall, during the term of the contract and any renewal or extension, provide and maintain the following insurance. All insurance and certificates shall: (1) name the Village of Salado as an additional insured for applicable coverages (except workers’ compensation), (2) provide at least thirty (30) days’ prior written notice to the Village for cancellation, nonrenewal, or material change, and (3) include a waiver of subrogation in favor of the Village to the extent of insurance proceeds. Insurance companies must be authorized to transact business in Texas and rated at least ‘A’ by AM Best or equivalent. A certificate of insurance evidencing required coverage shall be submitted with the SOQ and, upon renewal or extension, prior to the renewal/extension date.
Required Coverage: Statutory workers’ compensation as required by Texas law. Professional Liability (Errors & Omissions): minimum $1,000,000 per claim / $2,000,000 aggregate.
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