Common use of Nature and Amounts Clause in Contracts

Nature and Amounts. Contractor shall maintain sufficient insurance coverage to enable it to meet its obligations under this Agreement and by law. Without limiting the foregoing, Contractor shall maintain at its sole cost and expense at least the following insurance covering its obligations under this Agreement: (i) commercial general liability including (A) bodily injury, (B) property damage, (C) contractual liability coverage, and (D) personal injury, in an amount not less than [five million dollars ($5,000,000)] per occurrence; (ii) business automobile liability for owned, hired, and non-owned vehicles in an amount of not less than [one million dollars ($1,000,000)] for each accident; (iii) workers’ compensation at statutory limits; and (iv) professional liability insurance covering errors and omissions and wrongful acts in the performance of the Services with a limit per occurrence of not less than [five million dollars ($5,000,000)].