Common use of Types and Amounts of Insurance Required Clause in Contracts

Types and Amounts of Insurance Required. Unless otherwise requested by the Generators in writing, the Contractor shall cause to be issued insurance coverage’s insuring the Contractor and/or subcontractors against all general liabilities, product liability, personal injury, property damage, and (where applicable) professional liability in the amount of One Million Dollars ($1,000,000) on the Contract Declarations and Execution page for each occurrence. In addition, the Contractor shall ensure it has any necessary workers’ compensation and employer liability insurance as required by Iowa law. Prospective Bidders shall maintain until contract completion, Comprehensive Commercial General Liability Insurance and Automobile Liability Insurance in the amount not less than Two Million Dollars ($2,000,000) for injuries, including accidental death, to any one person and subject to the same limit for each person, and in an amount not less than One Million Dollars ($1,000,000) on account of any one occurrence. Property damage liability insurance shall be in the amount not less than One Million Dollars($1,000,000).