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GENERAL CONDITIONS <br /> GC-1 CERTIFICATE OF INSURANCE <br /> The contractor, prior to the execution of the contract, shall obtain and keep in force during <br /> the performance of any and all work under this contract, the following insurance coverages, <br /> provided by companies acceptable to the City and authorized to transact business in the State of <br /> Illinois. The insurance companies will be rated by A.M. Best & Company with a rating not <br /> lower than A- and have a financial rating of VI. Coverage limits shall be written at not less than <br /> the minimum specified in this section. Higher minimum limits and additional coverages may be <br /> ' specified by a special condition elsewhere in the contract. <br /> Workers' Compensation and Employer's Liability: <br /> Workers compensation insurance shall be provided according to the provisions of the <br /> Illinois Workers' Compensation Act, as amended. <br /> ' Employer's Liability <br /> a. Each Accident $500,000 <br /> b. Disease- policy limit $500,000 <br /> c. Disease- each employee $500,000 <br /> Commercial General Liability: <br /> i <br /> General Aggregate Limit $2 000 000 <br /> > <br /> Products- Completed Operations $2,000,000 <br /> Each Occurrence Limit $1,000,000 <br /> ' Insurance shall be written on an occurrence form and shall provide coverage for:,operations <br /> of the contractor, subcontractors (if any), broad form property damage, contractual liability <br /> and the hazards of explosion, collapse and underground (if appropriate). An Umbrella <br /> policy may be used to provide excess limits over underlying policy(ies) to meet the <br /> required limits of coverage. <br /> ' Commercial Automobile Liability: <br /> Bodily Injury& Property Damage Limit Each Occurrence $1,000,000 <br /> ' The policy shall cover owned, non-owned and hired vehicles. <br /> 20 <br />