PPT Slide
Surety Bond and Insurance Requirements
Alameda Corridor Transportation Authority
Contract requires bonds and retainage, obligates contractor to carry specific insurance, and provides for an owner-controlled insurance program to reduce costs
- Performance Bond for $250 million, 5% Retainage, Payment Bond for 25% of Contract Price
- $202 million commercial general liability policy (on-site) with 10 years products/completed operations coverage
- $10 million railroad protective liability policy
- $1 million employer's liability policy, statutory limit for worker's compensation (on-site and at dedicated off-site locations)
- $25 million asbestos/pollution liability policy
- $110 million builder’s risk policy, $60 million sublimit for delayed opening, $50 million sublimit for earthquake and flood and $1 million for items in transit
- $25 million Owner’s Protective Professional Liability policy, covering claims against ACTA in excess of the designer’s professional liability policy
- $50 million commercial general liability for Contractor and $1 million for subcontractors (off-site); $50 million automobile liability for Contractor and $2 million for subcontractors
- $5 million employer's liability for Contractor, statutory limit for worker's compensation, and $1 million employer's liability for subcontractors (off-site)
- Insurance covering hazardous materials remediation work
- $1 million professional liability
- $50 million aircraft liability