Required Insurance and Minimum Limits Clause Samples
The "Required Insurance and Minimum Limits" clause sets out the types and minimum amounts of insurance coverage that a party must maintain during the term of an agreement. Typically, this clause specifies categories such as general liability, professional liability, or workers’ compensation, and details the minimum dollar limits for each type of coverage. By clearly defining these requirements, the clause ensures that adequate financial protection is in place to cover potential risks or liabilities, thereby safeguarding both parties and reducing the likelihood of disputes over insufficient insurance.
Required Insurance and Minimum Limits. During the term of this Agreement, Seller must obtain and maintain, at its sole expense, the following insurance coverage:
Required Insurance and Minimum Limits. During the term of the Agreement, Contractor must maintain, at its sole expense, the following insurance coverage: Workers’ Compensation and Employer’s Liability Insurance Scope. Workers’ Compensation and Employer’s Liability to cover claims under applicable State or Federal workers’ compensation laws. Coverage must include Employer’s Liability to cover claims for injury, disease or death of employees which, for any reason, may not fall within the provisions of the applicable workers’ compensation law. Workers’ Compensation: Statutory Employer’s Liability: $2,000,000 each accident, bodily injury by accident $2,000,000 each employee, bodily injury by disease $2,000,000 policy limit, bodily injury by disease Navigable Waters. If any Services under the Agreement involves work in, over or alongside any navigable waters, then Contractor’s workers’ compensation coverage must cover liability under U.S. Longshoremen and Harbor Workers’ Compensation Act, The ▇▇▇▇▇ Act, Maritime Employers Liability, and any other coverage required under Federal or State laws pertaining to workers in, over or alongside navigable waters.