TENANT: The insurance requirements are written in the tenant’s lease. If there are any questions on these requirements, please contact Building Management at (808) 521-6022.
SERVICE CONTRACTOR: A copy of the contractors’ current Certificate of Insurance should be forwarded to Management prior to commencement of work. The policy shall contain an endorsement naming the following as primary additional insureds: Central Pacific Bank, Central Pacific Financial Corporation (Landlord) and Colliers Real Estate Management Services (HI), LLC (Managing Agent) and their respective officers, directors and employees.
The policy shall contain a provision providing Worker’s Compensation coverage based on statutory limits.
Commercial General Liability Insurance written on an occurrence form covering the operations of the Contractor. Limits for such coverage shall be $1,000,000.00 per Occurrence; $2,000.000.00 General Aggregate; $5,000,000.00 Umbrella Coverage; and Auto Insurance to include coverage for any owned, non-owned or hired automobiles and / or refuse trucks with limits of $25,000.00 per person per accident - Bodily Injury, $25,000.00 per accident - Property Damage; $500,000 Employer Liability coverage; and Basic No-Faulty coverage as required by Hawaii Law.
The policy shall contain a Waiver of Subrogation Endorsement which specifically states “the insurer waives any right of recovery that it may have against Client, Client’s mortgagee (if applicable), Client’s ground lessor (if applicable), Client’s investment advisor (if applicable), Central Pacific Bank, Central Pacific Financial Corporation (Landlord) and Colliers Real Estate Management Services (HI), LLC (Managing Agent) and their respective officers and employees because of payments made under this policy."
The policy shall also contain an endorsement stating, “The insurance afforded to Additional Insureds is primary insurance and the insurer will not seek contribution from other insurance available to the Additional Insureds."
All General Contractors must keep current insurance certificates on all subcontractors. These certificates will be kept by the Property Manager. Any Subcontractor performing work at Central Pacific Plaza found not to have its insurance current will be immediately ordered off premises. General Contractors/ Subcontractors shall submit a current Certificate of Insurance to Building Management prior to start of construction.
