Common use of Minimum Levels of Insurance Clause in Contracts

Minimum Levels of Insurance. During the term of this Agreement, both parties will keep in full force and effect insurance policies covering: (i) commercial general liability insurance in an amount not less than one million dollars per occurrence for bodily injury and property damage; (ii) workers' compensation insurance in an amount not less than that required by applicable law; and (iii) property insurance covering each party's own property and equipment, including but not limited to electronic computer equipment for the perils customarily insured, but in no event more restrictive than "special perils" property insurance, in the amount of its full replacement cost at the time of the loss. Within ten days after request by INFLOW, Customer will provide to INFLOW evidence of the foregoing insurance. Customer acknowledges that INFLOW has no obligation whatsoever to insure any of Customer's Property. INFLOW acknowledges that Customer has no obligation whatsoever to insure any of INFLOW'S equipment or property. The insurance policies required in this Agreement will be issued by financially secure insurance companies authorized to issue insurance in the state where the IDC is located.