Insurance Requirements

Insurance requirements MUST BE fulfilled within 10 calendar days after signing the contract for work. Evidence of Insurance must be sent to our attention prior to the start of work. Delay in the compliance of these requirements can result in termination of the contract and/ or delay in payment to you. We request that the overview of insurance requirements itemized below be forwarded to your insurance carrier in order to secure compliance with little fan-fare. Compliance constitutes PGCC review and acceptance of Certificates and applicable endorsements.

General Insurance Provisions: See Sample Insurance Certificate Here

a) All Insurance Companies providing insurance must have a minimum AM Best rating of "A VII" and be licensed to transact business in the state for which the work is being performed.

b) Policy must provide at least 30 days written notice of cancellation/material change to certificate holder.

  1. Certificate(s) of General Liability Insurance:
    • Important note: Your General Liability insurance must be provided by an insurer with a A.M. Best & Company rating of A- or above and a minimum financial rating of VII. Precision will not accept a lesser-rated carrier.
    • The Certificate must name Precision General Commercial Contractors, Inc. as the Certificate Holder.
    • Owner, Lender as well as those entities detailed within the Article on Insurance (see Article 8 of subcontract) are to be listed as additional insureds with respect to work, operations, or exposure at the project.
    • Policy must be issued on an "Occurrence" basis. ”Claims -Made" or "Modified Occurrence" policy forms will not be accepted.
    • All required endorsements must be attached to certificate of insurance with the specific endorsement form numbers evidenced on the certificate of insurance in the Description of Operations comment section.
    • Minimum Limits are:
      • General Aggregate $2,000,000
      • Products-Completed Ops Aggregate. $2,000,000
      • Personal and Adv. Injury $1,000,000
      • Each Occurrence $1,000,000
    • The General Liability coverage certificate must include the 2 AI forms listed in the subcontract within the Article on Insurance. Those forms or their “equivalent” are respectively:
      • AI form CG 2010 0704 (Ongoing Operations)
      • AI form CG 2037 0704 (Completed Operations)
    • Insurance must provide "primary and non-contributory" status to the additional insureds outlined in the contract and to any applicable insurance carried by said additional insureds.
    • Insurance must include a "waiver of subrogation" via form CG 2404 1093 or its “equivalent” waiving any and all rights of recovery against all additional insureds and any applicable insurance carried by said additional insureds.
  2. Auto Liability coverage: Automobile Liability Insurance:
    • Coverage to include a combined single limit of $1,000,000 covering all owned, non-owned and hired vehicles.
    • The Certificate must name Precision General Commercial Contractors, Inc. as the Certificate Holder. Owner, Lender and those entities detailed within the Article on Insurance (see Article 8 of subcontract) are to be listed as additional insureds. Evidence specific endorsement form number and the required entities on the certificate of insurance in the Description of Operations comment section.
  3. Workers’ Compensation coverage:
    • Coverage must be provided on a statutory basis for the state in which the work is being performed.
    • As Workers’ Compensation coverage is only applicable to the “Workers,” Additional Insureds are not named. However, your Certificate of Insurance must name Precision General Commercial Contractors, Inc. as certificate holder and provide a "waiver of subrogation" waiving any and all rights of recovery against all Additional Insureds (Certificate Holder, Owner, Lender, all entities detailed within the Article on Insurance within the subcontract) and any applicable insurance carried by said additional insureds. Evidence waiver, required entities and the specific waiver form number on the certificate of insurance in the Description of Operations comment section.
    • Insurance must include a Coverage for employer's liability shall be provided with limits as follows:
      • $1,000,000 each accident
      • $1,000,000 disease-policy limit
      • $1,000,000 disease-each employee

NOTE: Upon receipt of an insurance cancellation notice, Subcontractor will send to Precision General Commercial Contractors, Inc. a renewal or updated Certificate of Liability Insurance within 48 hours to avoid suspension of future payments. This is applicable to General and Auto Liability, as well as Workers’ Compensation coverage.

Precision General Commercial Contractors, Inc
Corporate Office · 300 Turney Street, Second Floor · Sausalito, CA 94965 · Phone: (415) 332-8390 · Fax: (415) 332-8391
West Coast Regional Office · 5580 Power Inn Road, Suite G · Sacramento, CA 95820 · Phone: (916) 381-4640 · Fax: (916) 381-4819