Adjustments in Coverage Amounts. (a) All insurance coverage limits stipulated in Section 17.01(b), as well as deductibles and self-insured retentions, will be reviewed every three years and adjusted as appropriate, in line with such amounts that would be insured by a prudent business similar to, and undertaking similar activities to, the Concessionaire; provided, that no such review or adjustments will be required with respect to insurance coverage required for the Design-Build Work. (b) In determining increases in limits and adjustments to deductibles or self-insured retentions, the parties will take into account (A) Claims and Loss experience for the Project, provided, that premium increases due to adverse Claims experience will not be a basis for justifying increased deductibles or self-insured retentions; (B) the condition of the Project, (C) the safety compliance and performance record for the Project; (D) then-prevailing Good Industry Practice for insuring comparable transportation projects; and (E) the provisions regarding unavailability of increased coverage set forth in Section 17.05. (c) In connection with such review, the Concessionaire will deliver to the Department evidence that such insurance is in effect, together with the Concessionaire’s certification that such insurance is in line with amounts that would be insured by such a prudent business. (d) Any Dispute regarding increases in limits or adjustments to deductibles or self- insured retentions will be resolved according to the dispute resolution procedures under Article 21.
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Adjustments in Coverage Amounts. (a) All insurance coverage limits stipulated in Section 17.01(b), as well as deductibles and self-insured retentions, will be reviewed every three years and adjusted as appropriate, in line with such amounts that would be insured by a prudent business similar to, and undertaking similar activities to, the Concessionaire; provided, that no such review or adjustments will be required with respect to insurance coverage required for the Design-Build Work.
(b) In determining increases in limits and adjustments to deductibles or self-insured retentions, the parties will take into account (A) Claims and Loss experience for the Project, provided, that premium increases due to adverse Claims experience will not be a basis for justifying increased deductibles or self-insured retentions; (B) the condition of the Project, (C) the safety compliance and performance record for the Project; (D) then-prevailing Good Industry Practice for insuring comparable transportation projects; and (E) the provisions regarding unavailability of increased coverage set forth in Section 17.05.
(c) In connection with such review, the Concessionaire will deliver to the Department evidence that such insurance is in effect, together with the Concessionaire’s certification that such insurance is in line with amounts that would be insured by such a prudent business.
(d) Any Dispute regarding increases in limits or adjustments to deductibles or self- insured retentions will be resolved according to the dispute resolution procedures under Article 21.. 133 DMEAST #27287336 v26
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Sources: Comprehensive Agreement