Common use of Verification of Insurance Coverage Clause in Contracts

Verification of Insurance Coverage. The Bank must furnish certificates of insurance to the Town Manager for review and approval prior to the execution of this Agreement. The Certificates must clearly indicate that the Bank has obtained insurance of the type, amount and classification required by these provisions, in excess of any pending claims at the time of award to the Bank. Bank must maintain coverage with equal or better rating as identified herein for the term of this Agreement. Bank must provide written notice to the Town Manager of any material change, cancellation or notice of non- renewal of the insurance within 30 days of the change. Bank must furnish a copy of the insurance policy or policies upon request of the Town Manager within ten (10) days of written request.

Verification of Insurance Coverage. The Bank must furnish certificates of insurance to the Town Manager for review and approval prior to the execution of this Agreement. The Certificates must clearly indicate that the Bank has obtained insurance of the type, amount and classification required by these provisions, in excess of any pending claims at the time of award to the Bank. Bank must maintain coverage with equal or better rating as identified herein for the term of this Agreement. Bank must provide written notice to the Town Manager of any material change, cancellation or notice of non- renewal of the insurance within 30 days of the change. Bank must furnish a copy of the insurance policy or policies upon request of the Town Manager within ten (10) days of written request.. Agreed