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01/25/2023 GL Insurance Requirements Limits

Oles, City of Santa Monica

Hi all - we are getting push-back regarding our CGL requirement of limits of no less than $1M per occurence for most contracts. Knowing that IRIC is recommending $2M, what limits does your City require? Thanks! 
6 replies
Sheila

01/25/2023 05:58:00 PM

Thanks Mark!  Love the tree 
Mark

01/25/2023 05:53:41 PM

SB matches the loss exposures to the insurance requirements. Most contracts for work use the $2 Million coverage limit option, with a few exceptions.

The Risk team developed the attached flowchart to assist internal operations with selecting the correct insurance coverage limits for the work. 
Download file: fad144a4-c9f5-48dd-8653-96cbe81afaa4.docx
Sheila

01/25/2023 05:47:49 PM

Monterey is still at $1 million but I hope to get it up to $2 
Rhonda

01/25/2023 05:07:07 PM

Salinas response same as Jena and Betsy. IRIC has been at $2M for about a decade now btw.
Jena

01/25/2023 04:16:22 PM

Oles...we are the same as Burbank.  Assess for higher limits on items such as marathons on City streets.
Betsy

01/25/2023 04:02:35 PM

Hi Oles, we are still at $1M and sometimes reasses on specific higher risk items.