Professional Property Management Insurance Requirements (Rebid)
Original Solicitation Links
Description
The Chicago Housing Authority (CHA) is re-bidding its professional property management agreement, requiring the contractor to procure and maintain specific insurance coverages. The contractor must provide general liability insurance with limits of $2,000,000 per occurrence and $4,000,000 aggregate, professional liability insurance of $5,000,000 per occurrence, auto liability of $1,000,000 per occurrence, workers' compensation with statutory limits, and a crime/fidelity bond of at least $1,000,000 or two months' gross rental income. Additional coverages include sexual abuse and molestation insurance of $1,000,000 per occurrence when minors are involved. Subcontractors must also carry similar insurance with CHA and property manager named as additional insureds. The contract is part of CHA's Property Managers' Insurance Program (PMIP) which provides general liability coverage for property management activities.
Classification Codes
Smart Codes
Specifications
Requirements
- General Liability — $2,000,000.00
- Professional Liability — $5,000,000.00
- Auto Liability — $1,000,000.00
- Workers Compensation
- Sexual Abuse and Molestation — $1,000,000.00
- Crime or Fidelity Bond — $1,000,000.00
Documents
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