BUILDER’S INSURANCE Clause Samples
BUILDER’S INSURANCE. Designer/Builder shall procure and maintain, for the duration of the construction portion of this Contract, the following insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the Work hereunder and the results of that Work by the Designer/Builder, its agents, representatives, employees or subcontractors. The following sets forth the minimum scope and limits of the required insurance coverage. If the Designer/Builder maintains broader coverage and/or higher limits than the minimums set forth below, District requires and shall be entitled to the broader coverage and/or the higher limits maintained by the Designer/Builder. Any available insurance proceeds in excess of the specified minimum limits of insurance and coverage shall be available to District. All policies shall contain waiver of subrogation endorsement against the District. All of Designer/Builder’s insurance shall be with admitted insurance companies with a current A.M. Best rating of no less than A-: VII. If any coverage is written by a non-admitted surplus lines carrier, the insurer must be included in the current CA List of Accepted Surplus Lines Insurers (LASLI), be approved by District’s Risk Manager and otherwise meet all rating requirements.
BUILDER’S INSURANCE. The following provisions of this Article XII shall apply notwithstanding the transfer of title to, and ownership of, the Vessel to the Buyer under the Transfer Agreement.
1. EXTENT OF BUILDER'S INSURANCE COVERAGE From the date on which erection of the Vessel is commenced in the building dock until the Vessel is delivered to and accepted by the Buyer, the Builder shall, at its own cost and expense, keep the Vessel and all Buyer's Supplies delivered to the Builder insured under Builder's Risk Policies, in accordance with the ILU "Institute Clauses for Builders Risks" with first-class insurance companies. From the date of her launching, the Vessel shall also be insured for war risks in accordance with the ILU "Institute Clauses for Builders Risks". A copy of the Builder's broker's cover notes evidencing such coverages shall be provided by the Builder to the Buyer within twenty (20) days of the commencement of keel-laying of the Vess▇▇.
BUILDER’S INSURANCE. During the performance of work under this Contract, Builder shall at its sole cost and expense carry and maintain at all times:
1. Comprehensive and Marine General Liability Insurance insuring and covering the contractual and indemnity obligations and liabilities of Builder hereunder. Such insurance shall have minimum combined single limits not less than Ten Million ($10,000,000) for any one occurrence.
2. Worker’s Compensation/Employer’s Liability Insurance with scope and limits sufficient to satisfy the legal requirements of the State of Alabama with minimum limits of One Million ($1,000,000) as regards bodily injury or death to Builder’s employees. Coverage shall be endorsed to provide that a claim “in rem” shall be considered as a claim against the employer, and shall contain an “Alternate Employer Endorsement” in favor of Buyer
3. Longshoremen’s and Harbor Worker’s Compensation Act coverage in an amount sufficient to cover Builder’s liability under this Contract.
4. Excess coverage bringing the aforesaid liability coverages to not less than Twenty-Five Million ($25,000,000) per occurrence, which coverage shall apply to each of the above items individually and in the aggregate. Buyer shall be named as additional assured only to the extent of the indemnity agreement contained herein.
5. From the time the first material destined for inclusion as a part of the Units becomes at risk at the Shipyard and until the same is completed, delivered to and accepted by Buyer, Builder shall, at its own cost and expense, keep [**] Confidential Treatment 33 the Units and all machinery, materials, equipment, appurtenances and outfit delivered to the Shipyard for the Units or built into, or installed in or upon the Units, including Buyer Furnished Equipment, fully insured with reputable insurance companies with coverage corresponding to the American Institute Builder’s Risk Clauses (dated February 8, 1979). The amount of such insurance coverage shall, up to the date of delivery of the Units, be in an amount at least equal to, but not limited to, the aggregate of the payment made by Buyer to Builder including the value of Buyer Furnished Equipment. The policy referred to hereinabove shall be taken out in the name of Builder and all losses under such policy shall be payable to Builder. If Buyer so requests, Builder shall at Buyer’s cost procure insurance on the Units and all parts, materials, machinery and equipment intended therefor against risks of earthquake, strikes, w...
BUILDER’S INSURANCE. During the period of any construction work by Tenant on the Premises, Tenant shall procure, at no expense to Landlord, builder's "all risk" insurance and worker's compensation insurance with a company satisfying the requirements set forth in Subsections 9.1.1 and 9.
BUILDER’S INSURANCE. During the period of any construction work by Tenant on the Premises, Tenant shall procure, or cause Tenant’s contractor to procure, at no expense to Landlord, builder’s “all risk” insurance and worker’s compensation insurance with an insurance company satisfying the requirements set forth in Section 9.1.2 below. Landlord and any Mortgagee(s) designated by Landlord shall be named as additional insureds under such policies and the insurance shall be kept in full force and effect during the entire construction period, and copies of such policies or certificates of the insurance shall be furnished to Landlord prior to the commencement of such work.