Common use of Advisor’s Insurance Clause in Contracts

Advisor’s Insurance. During the term of this Agreement, Advisor, as a reimbursable cost under this Agreement with regard to subsection (b) below, shall maintain in full force and effect the following kinds of insurance and levels of coverage: (a) Commercial general liability (naming the Company as an additional insured), which is similar in scope of coverage to that maintained by other like advisory firms with insurance limits of liability of not less than Five Million Dollars ($5,000,000.00), combined single limits covering both bodily injury (including death) and property damage, and including contractual liability coverage. Such insurance will be excess and will not contribute with defense or other coverage afforded under any policy of insurance carried by the Company. Unless otherwise approved in writing by the Company, Advisor will require all independent contractors it employs hereunder to maintain liability insurance in the minimum amount of One Million Dollars ($1,000,000.00), combined single limit, covering both bodily injury (including death) and property damage. (b) Workers’ compensation and employer’s liability insurance in the amount not less than required by applicable laws, covering all employees of Advisor who are engaged in any work under this Agreement. (c) Commercial automobile liability insurance covering both owned and non-owned vehicles, with limits of not less than $1,000,000 for bodily injury and property damage, when the services to be performed require the use of a motor vehicle. An umbrella or excess liability policy can be used to meet the above-referenced limits.

Advisor’s Insurance. During the term of this Agreement, Advisor, as a reimbursable cost under this Agreement with regard to subsection (b) below, shall maintain in full force and effect the following kinds of insurance and levels of coverage: (a) Commercial general liability (naming the Company as an additional insured), which is similar in scope of coverage to that maintained by other like advisory firms with insurance limits of liability of not less than Five Million Dollars ($5,000,000.00), combined single limits covering both bodily injury (including death) and property damage, and including contractual liability coverage. Such insurance will be excess and will not contribute with defense or other coverage afforded under any policy of insurance carried by the Company. Unless otherwise approved in writing by the Company, Advisor will require all independent contractors it employs hereunder to maintain liability insurance in the minimum amount of One Million Dollars ($1,000,000.00), combined single limit, covering both bodily injury (including death) and property damage. (b) Workers’ ' compensation and employer’s 's liability insurance in the amount not less than required by applicable laws, covering all employees of Advisor who are engaged in any work under this Agreement. (c) Commercial automobile liability insurance covering both owned and non-owned vehicles, with limits of not less than $1,000,000 for bodily injury and property damage, when the services to be performed require the use of a motor vehicle. An umbrella or excess liability policy can be used to meet the above-referenced limits.