We are an IT staffing firm. Our client has requested the following
type of insurance. I am quoted price ranging from 3k to 20k. How to
judge the best quote? I am looking for the best price and not
necessarily the best service.
Requirement is as follows:
Consultant, at a minimum, shall obtain, at Consultant's expense, the
following insurance coverage which shall continue to remain in effect
for all claims arising during the Term of this Agreement:
a) Worker's compensation as required by the laws of the state
in which the Services are performed;
b) Commercial, general liability and property damage insurance
with combined bodily injury and property damage limits of at least
$3,000,000 for each person and each occurrence respectively and, at
Client's request, naming Client as an additional insured;
c) Commercial Automobile Liability for bodily injury
(including death) and property damage with limits of at least
$3,000,000 for each person and each occurrence respectively and, at
Client's request, naming Client as an additional insured; and
d) Fidelity bonding of at least $5,000,000 for claims arising
from fraudulent or dishonest acts on the part of any Representative of
Consultant.
7.1.1. Consultant shall provide certificates of insurance evidencing
the above described coverage. Such certificates shall include a
statement indicating that Client shall receive thirty (30) days notice
of cancellation or changes in coverage of any policies which may
effect Client's interest and, if requested by Client, a statement
confirming that Client has been named as an additional insured.
7.2. Indemnification. Consultant agrees to defend, indemnify and
hold harmless Client and its officers, directors, customers,
employees, agents, and affiliates from all claims, losses, damages,
judgments, liabilities, obligations, costs and expenses, including
attorneys' fees and costs, directly or indirectly incurred by Client
as a result of Consultant, or its employees1 or agents' negligence,
intentional act or omission, breach of this Agreement, or Consultant's
alleged failure to comply with the requirements of applicable laws and
regulations. In addition, Consultant shall, at its own expense,
indemnify, defend and hold Client harmless against any and all claims,
losses, damages, judgments, costs and expenses, including attorneys'
fees, in any action taken by or against Consultant arising from the
services performed or the Consultant's performance, or failure to
perform, under this Agreement. |
