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<br />82 SECTION 6: ATTACHMENTS | 2014_0122 <br /> <br />of any paying entity are being discontinued. The State must provide the Contract Vendor with notice within a <br />reasonable time after the decision is made to terminate the Contract. Termination will be by written or fax notice <br />to the Contract Vendor. The State is not obligated to pay for any goods or service accepted or provided after <br />notice and effective date of termination. However, the Contract Vendor will be entitled to payment for goods or <br />services accepted or satisfactorily performed up until the effective date of the termination. The State will not be <br />assessed any penalty if the Contract is terminated in accordance with this section. <br /> <br />10. GENERAL INSURANCE REQUIREMENTS. The Contractor/Contract Vendor (Contract Vendor) shall maintain <br />insurance to cover claims which may arise from operations under this Contract, The Contract Vendor shall not <br />commence work under the Contract until they have obtained all the insurance described below and the State of <br />Minnesota has approved such insurance. The Contract Vendor shall maintain such insurance in force and effect <br />throughout the term of the Contract. <br /> <br />All coverages and limits shall remain in force and effect throughout the term of the Contract. <br /> <br />NOTICE TO THE CONTRACT VENDOR: The failure of the State of Minnesota to obtain a Certificate of <br />Insurance, for the policies required under this Contract or renewals thereof, or failure of the insurance company to <br />notify the State of the cancellation of policies required under this Contract shall not constitute a waiver by the <br />Owner to the Contract Vendor to provide such insurance. <br /> <br />The Owner reserves the right to immediately terminate the Contract if the Contract Vendor is not in compliance <br />with the insurance requirements and the Owner retains all rights to pursue any legal remedies against the <br />Contract Vendor. All insurance policies must be open to inspection by the State, and copies of policies must be <br />submitted to the State’s authorized representative upon written request. <br /> <br />NOTICE TO INSURER: The Contract Vendor’s insurance company(ies) waives its right to assert the immunity of <br />the State as a defense to any claims made under said insurance. <br /> <br />REQUIREMENTS FOR THE CONTRACT VENDOR: The Contract Vendor’s policy(ies) shall be primary <br />insurance to any other valid and collectible insurance available to the State of Minnesota with respect to any claim <br />arising out of Contract Vendor’s performance under this Contract. <br /> <br />If Contract Vendor receives a cancellation notice from an insurance carrier affording coverage herein, Contract <br />Vendor agrees to notify the State of Minnesota within five (5) business days with a copy of the cancellation notice, <br />unless Contract Vendor’s policy(ies) contain a provision that coverage afforded under the policy(ies) will not be <br />cancelled without at least thirty (30) days advance written notice to the State of Minnesota. <br /> <br />The Contract Vendor is responsible for payment of Contract related insurance premiums and deductibles. <br /> <br />If the Contract Vendor is self-insured, a Certificate of Self-Insurance must be attached. <br /> <br />Insurance companies must either (1) have an AM Best rating of A- (minus) and a Financial Size Category of VII or <br />better, and be authorized to do business in the State of Minnesota or (2) be domiciled in the State of Minnesota <br />and have a Certificate of Authority/Compliance from the MN Department of Commerce if they are not rated by AM <br />Best. <br /> <br />The Contract Vendor’s Umbrella or Excess Liability insurance policy may be used to supplement the Contract <br />Vendor’s policy limits to satisfy the full policy limits required by the Contract. <br /> <br />POLICY REQUIREMENTS: <br />1. Workers’ Compensation Insurance: Statutory Compensation Coverage. Except as provided below, <br />Contract Vendor must provide Workers’ Compensation insurance for all its employees and in case any work is <br />subcontracted, Contract Vendor will require the subcontractor to provide Workers’ Compensation insurance in <br />accordance with the statutory requirements of the State of Minnesota, including Coverage B, Employer’s Liability. <br />Minimum limits of liability: <br /> <br /> Coverage B – Employer’s Liability <br /> $100,000 Bodily Injury by Disease per Employee <br /> $500,000 Bodily Injury by Disease Aggregate