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Cabarrus County <br />PO Box 707 <br />Concord, NC 28026 <br />Fax 704 - 920 -2820 <br />b. Richard Koch <br />County Attorney <br />Cabarrus County <br />PO Box 707 <br />Concord, NC 28026 <br />Fax 704 - 920 -2820 <br />2. EDC John Cox <br />President & CEO <br />Cabarrus Economic Development, Inc. <br />3003 Dale Earnhardt Blvd <br />Kannapolis NC, 28083 <br />Fax 704 - 782 -4050 <br />D. Insurance and Liability. The EDC will maintain worker's compensation and <br />employer's liability insurance for employees as required by law. EDC shall <br />maintain insurance policies at all times with minimum limits as follows. <br />1. Coverage and Minimum Limits <br />a. Workers' Compensation <br />i. $100,000 each accident <br />ii. $500,000 bodily injury by disease <br />iii. $500,000 bodily injury by disease policy limit <br />b. General Liability: $500,000 per occurrence <br />c. Automobile Liability: $500,000 per occurrence <br />d. Umbrella: $1,000,000 per occurrence <br />2. EDC shall provide the County with a Certificate of Insurance for <br />review prior to the issuance of any contract or Purchase Order. All <br />Certificates of Insurance will require thirty days (30 days) written <br />notice by the insurer or EDC's agent in the event of cancellation, <br />reduction or other modifications of coverage. In addition to the <br />notice requirement above, EDC shall provide the County with <br />immediate written notice of cancellation, reduction, or other <br />modification of coverage of insurance. Upon failure of the EDC to <br />provide such notice, EDC assumes sole responsibility for all loses <br />incurred by the County for which insurance would have provided <br />coverage. The insurance certificate shall be for the initial contract <br />period of one (1) year and shall be renewed by the EDC for each <br />subsequent renewal period of the contract. <br />Attachment number 1 <br />F -2 Page 42 <br />