N.Y. Comp. Codes R. & Regs. Tit. 9 §§ 1630-3.1

Current through Register Vol. 46, No. 45, November 2, 2024

Section 1630-3.1 - Insurance to be carried by authority

During construction period, authority will continue to carry forms of insurance referred to under Subpart 1630-2, the Preconstruction Period, to extent that they apply.

(a) Public liability insurance. All forms of public liability insurance required during preconstruction period, as outlined under subdivision (b) of section 1630-2.1, will be continued during construction period. Where coverage has not been previously obtained, authority shall obtain elevator liability insurance in limits of at least $100/300,000 for bodily injury.

(b) Fire and extended coverage. All forms of fire and extended coverage insurance outlined under subdivision (f) of section 1630-2.1 shall be continued during construction period, covering both property on project site as well as materials stored off project site.

(c) Fidelity bond. Before construction commences, fidelity bond referred to in subdivision (d) of section 1630-2.1 should be endorsed to the increased amounts of coverage on various positions to comply with table of positions and amounts called for during construction period.

(d) Other liability coverages. Other forms of liability insurance as called for in Subpart 1630-2 will be continued during construction period.

(e) Bid and performance bonds. Such bid and performance bonds as may be required of any contractor shall be posted in accordance with his contract requirements.

N.Y. Comp. Codes R. & Regs. Tit. 9 §§ 1630-3.1