Common use of Minimum Insurance Coverage and Requirements Clause in Contracts

Minimum Insurance Coverage and Requirements. The [Vendor] shall obtain and maintain the minimum insurance coverage set forth below. By requiring such minimum insurance, [Texas Tech University System/Texas Tech University/Texas Tech University Health Sciences Center/Texas Tech University Health Sciences Center - El Paso/▇▇▇▇▇▇ State University] (TTUS) shall not be deemed or construed to have assessed the risk that may be applicable to the [Vendor] under [Contract/PO identifier]. The [Vendor] shall assess its own risks and, if it deems appropriate and/or prudent, maintain higher limits and/or broader coverage. The [Vendor] is not relieved of any liability or other obligations assumed or pursuant to the contract by reason of its failure to obtain or maintain insurance in sufficient amounts, duration, or types. All policies must be written on a primary basis, non-contributory with any other insurance coverage and/or self-funded plans which Texas Tech University maintains.