SMIP Project Insurance Requirements

SMIP fund recip­i­ents must obtain and main­tain, through­out the term of the project, insur­ance in the types and amounts required. The SMIP recip­i­ent will be asked to sub­mit Cer­tifi­cates of Insur­ances for the required cov­er­age before work com­mences. Gen­er­ally, insur­ance lim­its for SMIP projects are:

Com­mer­cial Gen­eral Liability

$1,000,000 per occur­rence
$1,000,000 products/completed oper­a­tions aggre­gate
$2,000,000 gen­eral aggre­gate
$25,000 max­i­mum deductible

Auto­mo­bile Liability

$1,000,000 each occurrence

Work­ers Com­pen­sa­tion and Dis­abil­ity Insurance

Proof of worker’s com­pen­sa­tion and dis­abil­ity insur­ance, self-insurance or an exemp­tion are required. For orga­ni­za­tions car­ry­ing worker’s com­pen­sa­tion insur­ance, we require a let­ter from the insur­ance provider stat­ing the organization’s Expe­ri­ence Mod­i­fi­ca­tion Rating.

Pro­fes­sional Liability

All awards for pro­fes­sional engi­neer­ing ser­vices for design, engi­neer­ing sur­veys, and/or con­struc­tion man­age­ment require a pro­fes­sional Errors and Omis­sions pol­icy pro­vid­ing lim­its of not less than $2 Mil­lion per claim, $2 Mil­lion aggre­gate, and a deductible or self-insured reten­tion not to exceed $50,000 per claim.

Media Lia­bil­ity

Pro­fes­sional media providers may be required to pro­vide proof of Media Lia­bil­ity insur­ance in the amount of $1 Mil­lion. This Errors & Omis­sions (E&O) insur­ance cov­ers film, video, mul­ti­me­dia and other cre­ative works. E&O insur­ance can pro­vide cov­er­age for law­suits aris­ing from an error, omis­sion, defama­tion, inva­sion of pri­vacy, emo­tional dis­tress, copyright/trademark infringe­ment, or mis­ap­pro­pri­a­tion that results from pro­duc­tion of media or other cre­ative works.