Minimum Insurance Coverage Sample Clauses
The Minimum Insurance Coverage clause sets a baseline requirement for the amount and types of insurance a party must maintain during the term of an agreement. Typically, it specifies coverage types such as general liability, professional liability, or workers' compensation, and may outline minimum policy limits or require proof of insurance certificates. This clause ensures that both parties are protected against potential losses or liabilities arising from the contract, reducing financial risk and clarifying expectations regarding insurance responsibilities.
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Minimum Insurance Coverage. Company will obtain and maintain during the term of this Agreement the following minimum insurance coverage:
1.1. Commercial general liability, including bodily injury, property damage, personal and advertising injury liability, and contractual liability covering operations, independent contractor and products/completed operations hazards, with limits of not less than one million dollars ($1,000,000) combined single limit per occurrence and two million dollars ($2,000,000) annual aggregate, naming Sprint, its officers, directors and employees as additional insureds;
Minimum Insurance Coverage. During the term of this Agreement and at all times that LICENSEE performs services for HP, LICENSEE shall maintain in full force and effect, at LICENSEE’s own expense, the following minimum insurance coverage.
Minimum Insurance Coverage. The Academy shall maintain at least the minimum insurance coverages required from time to time by University insurance providers, including but not limiting to, M.U.S.I.
Minimum Insurance Coverage. The required minimum insurance coverages and limits which SELLER shall obtain and maintain shall include the following:
2.A. Worker's Compensation and Employer's Liability:
2.A.1. Coverage A -- Statutory Benefits Coverage for liability imposed under the Workers' Compensation laws or similar provisions of the state(s) in which SELLER is performing work to fulfill obligations under the parties' agreement(s), including exempt employees.
2.A.2. Coverage B -- Employer's Liability Limits of at least: [*] Bodily Injury by Accident [*] Bodily Injury by Disease - Policy Aggregate [*] Bodily Injury by Disease - Each Employee CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.
Minimum Insurance Coverage. During the term of this Agreement, Ethico will maintain, at its own expense, the minimum amounts of insurance coverage as specified below:
I. General Comprehensive Liability Insurance of in an amount of at least $1,000,000 for bodily injury (including death) and property damage.
II. Commercial General Liability (“CGL”) and/or Umbrella Liability insurance written on ISO Occurrence form CG 00 01 12 07 or equivalent, written on an occurrence form, with a limit of not less than $2,000,000 per each occurrence.
III. Professional Liability/Errors and Omissions coverage covering the liability for any financial loss due to negligent error or omission of Ethico or its employees and agents with a policy limit of $2,000,000 per event.
IV. Cyber Liability including network security and privacy risks. Coverage will include unauthorized access, failure of security, wrongful disclosure, collection, or other negligence in the handling of Confidential Information, privacy perils, data breach expenses, and consumer notification expenses, in an amount not less than $5,000,000.
V. Workers Compensation and Employers Liability Insurance meeting minimum statutory requirements.
VI. Commercial Umbrella and/or Employers Liability Limits of no less than $1,000,000 each accident for bodily injury and $1,000,000 each employee for bodily injury by disease.
VII. Automobile Liability and/or Umbrella Liability insurance with limits of not less than $1,000,000 each accident.
Minimum Insurance Coverage. It is the intent of the Members that [***] shall procure and at all times maintain for the benefit of the Company and the Members the insurance coverage specified on Annex F from insurance carriers or reinsurers with a minimum [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.
A. M. Best’s financial strength rating of A-: VII, or S&P A or better and licensed to provide insurance in the jurisdictions in which work is to be performed; provided that any such insurance is obtainable on commercially reasonable terms and costs. The cost of any such insurance shall be allocated between [***]. It is the intent of the Members that all insurance required to be maintained by [***] in compliance with this Section 9.01 will be primary to any other insurance owned, secured or in place by the Members. [***] shall secure endorsements to this effect from all insurers of such policies.
Minimum Insurance Coverage. In the absence of written direction from Lender, the insurance amount required herein shall not be less than such amount as may be required to prevent Borrower from becoming co-insurer under the terms of any applicable policy, or the amount of the indebtedness secured hereby, whichever is greater.
Minimum Insurance Coverage. During the Term, and the Wind-Down Period, if any, and for a period of * from the last date BI is obligated to provide or license any Software or services under this Agreement, BI shall procure and maintain insurance reasonably adequate to cover any and all liability that BI may incur as a result of the performance of its obligations under this Agreement or *. Such insurance shall be in a form and with insurers reasonably acceptable to Microsoft and shall consist of policies that comply with the following minimum requirements:
(a) commercial general liability insurance, with policy limits of not less than * for each occurrence of bodily injury or property damage, or combined single limits;
(b) umbrella policy with minimum limits of *; and
(c) professional liability and errors and omissions liability insurance with policy limits of not less than * for each claim with a deductible of not more than *.
Minimum Insurance Coverage. The insurance coverage maintained by Lessor under this Section 5 shall be at least as broad as:
(1) Commercial General Liability (CGL): Insurance Services Office Form CG 00 01 covering CGL on an “occurrence” basis, including products and completed operations, property damage, bodily injury and personal & advertising injury with limits no less than $25,000,000 per occurrence. If a general aggregate limit applies, either the general aggregate limit shall apply separately to this project/location (ISO CG 25 03 or 25 04) or the general aggregate limit shall be twice the required occurrence limit.
Minimum Insurance Coverage. In the event (a) AVS and the Company fail to maintain following the Closing, "Minimum Insurance Coverage", as hereinafter defined, and (b) AVS or the Company incur any AVS Indemnifiable Damages subject to indemnification by the Shareholders hereunder which would have been covered in whole or in part by insurance had AVS maintained such Minimum Insurance Coverage, then the amount of such AVS Indemnifiable Damages shall be reduced to the extent such AVS Indemnifiable Damages would have been so compensated by insurance had the Minimum Insurance Coverage been maintained. For purposes of this provision, the term "Minimum Insurance Coverage" shall mean commercial liability, products liability, workers compensation and other applicable insurance (and related umbrella coverage) on a claims made basis with respect to the Company in amounts, with deductibles, and covering risks not materially less than the coverage amounts and risks, or materially in excess of the deductibles, presently maintained by the Company.