Common use of Automatic Escalator Clause in Contracts

Automatic Escalator. The limits of liability for each policy coverage amount stated above shall be automatically adjusted upward as necessary to remain at all times not less than the maximum amount of liability set forth in Chapter 537.610 RSMo. applicable to political subdivisions pursuant to 537.600; provided that nothing herein or in any such policy shall be deemed to waive the City’s sovereign immunity. The statutory waiver of sovereign immunity for 2020 is $2,905,664 for all claims arising out of a single accident or occurrence.

Automatic Escalator. The limits of liability for each policy coverage amount stated above shall be automatically adjusted upward as necessary to remain at all times not less than the maximum amount of liability set forth in Chapter Section 537.610 RSMo. applicable to political subdivisions pursuant to 537.600; provided that nothing herein or in any such policy shall be deemed to waive the City’s sovereign immunity. The statutory waiver of sovereign immunity for 2020 is $2,905,664 for all claims arising out of a single accident or occurrence.