Common use of Nature and Amounts Clause in Contracts

Nature and Amounts. Vendor shall maintain sufficient insurance coverage to enable it to meet its obligations created by this Agreement and by law. Without limiting the foregoing, to the extent this Agreement creates exposure generally covered by the following insurance policies, Vendor shall maintain, at its expense, at least the following insurance: (a) Commercial General Liability including (i) bodily injury, (ii) property damage, (iii) contractual liability coverage, and (iv) personal injury, in an amount not less than one million dollars ($1,000,000) per occurrence; (b) Business Automobile Liability for owned, hired and non-owned vehicles in an amount not less than one million dollars ($1,000,000) for each accident; (c) Workers’ Compensation at statutory limits; and (d) Professional Liability covering errors and omissions and wrongful acts in the performance of the Services, in an amount not less than one million dollars ($1,000,000) per occurrence.