Common use of Asbestos Abatement Liability Insurance Clause in Contracts

Asbestos Abatement Liability Insurance. If applicable, CMR shall provide asbestos abatement liability coverage including coverage for liability for bodily injury and property damage arising from the encapsulation, removal, handling, storage, transportation, and disposal of asbestos containing materials with a limit of $1,000,000 per accident; $1,000,000 disease per employee; and $1,000,000 disease policy limit, with a combined single limit of at least $2,000,000 per occurrence. 11.2.3.1. The policy must be a claims-made policy and the coverage period shall be determined by the following formula: continuous coverage for life of the Contract, plus one (1) year (to provide coverage for the warranty period), with an extended discovery period for a minimum of five (5) years which shall not commence until the expiration of the longest warranty period(s). 11.2.3.2. In the event this Contract provides for only asbestos abatement, neither all-risk builder’s risk nor an all-risk installation floater shall be required. 11.2.3.3. In the event CMR elects to engage a Subcontractor to perform any asbestos abatement, said Subcontractor must timely obtain and maintain the same asbestos abatement liability coverage as set forth above. In addition thereto: 11.2.3.3.1. said asbestos abatement liability insurance must comply with all requirements set forth in: (i) the General Requirements for All Insurance; and

Asbestos Abatement Liability Insurance. If applicable, CMR shall provide asbestos abatement liability coverage including coverage for liability for bodily injury and property damage arising from the encapsulation, removal, handling, storage, transportation, and disposal of asbestos containing materials with a limit of $1,000,000 per accident; $1,000,000 disease per employee; and $1,000,000 disease policy limit, with a combined single limit of at least $2,000,000 per occurrence. 11.2.3.111.2.2.3.1. The policy must be a claims-made policy and the coverage period shall be determined by the following formula: continuous coverage for life of the Contract, plus one (1) year (to provide coverage for the warranty period), with an extended discovery period for a minimum of five (5) years which shall not commence until the expiration of the longest warranty period(s). 11.2.3.211.2.2.3.2. In the event this Contract provides for only asbestos abatement, neither all-risk builder’s risk nor an all-risk installation floater shall be required. 11.2.3.311.2.2.3.3. In the event CMR elects to engage a Subcontractor to perform any asbestos abatement, said Subcontractor must timely obtain and maintain the same asbestos abatement liability coverage as set forth above. In addition thereto: 11.2.3.3.111.2.2.3.3.1. said asbestos abatement liability insurance must comply with all requirements set forth in: in (i) the General Requirements for All Insurance; and (ii) the No Cancellation or Lapse sections below; and

Asbestos Abatement Liability Insurance. If applicable, CMR shall provide asbestos Asbestos abatement liability coverage including coverage for liability for bodily injury and property damage arising from the encapsulation, removal, handling, storage, transportation, and disposal of asbestos containing materials with a limit of $1,000,000 per accident; $1,000,000 disease per employee; and $1,000,000 disease policy limit, with a combined single limit of at least $2,000,000 per occurrence. 11.2.3.1. The policy must be a claims-made policy and the coverage period shall be determined by the following formula: continuous coverage for life of the Contract, plus one (1) year (to provide coverage for the warranty period), with an extended discovery period for a minimum of five (5) years which shall not commence until the expiration of the longest warranty period(s). 11.2.3.2. In the event this Contract provides for only asbestos abatement, neither all-risk broad form builder’s risk nor an all-risk broad form installation floater shall be required. 11.2.3.3. In the event CMR Contractor elects to engage a Subcontractor to perform any asbestos abatement, said Subcontractor must timely obtain and maintain the same asbestos abatement liability coverage as set forth above. In addition thereto: 11.2.3.3.1. , said asbestos abatement liability insurance must comply with all requirements set forth in: in (i) the General Requirements for All Insurance; andand (ii) the No Cancellation or Lapse sections below.