Builder’s Risk Insurance Requirements Sample Clauses

Builder’s Risk Insurance Requirements. The Contractor shall be required to purchase and maintain, throughout the life of the contract, and until the project is accepted by the CITY, Builder’s Risk Insurance on an All Risk of Loss form. Coverage shall include: Accounts Receivable Equipment Breakdown Loss Adjustment Expenses Server Backups Aircraft Errors and Omissions Miscellaneous Unnamed Locations Service Interruption Builder’s Risk and Builder’s Risk Soft Costs Explosion Named Windstorm Sewer Backup Civil Commotion Extended Period of Indemnification Newly Acquired Property Sinkhole Civil or Military Authority Extra or Expediting Expenses Offsite Storage Smoke Claims Preparation Costs Fine Arts Ordinance or Law Spoilage Cold Testing Fire Ordinary Payroll Temporary Storage Collapse Firefighter Charges Physical Damage Terrorism Contract Penalty Flood Pollution and Contamination Cleanup Expenses Theft Contractor’s Extra Expense Fungus, Mold, Mildew Prevention of Access Time Element Decontamination Costs Hot Testing Reclaiming, Restoring, or Repairing Land Improvements Trees, Plants, & Landscaping Delay for Completion Ingress and Egress Reward Reimbursement Valuable Papers and Records Earth Movement Leased or Rented Equipment Riot Vehicles Earthquake Leasehold Interests Royalties Water Damage (interior and exterior) Electronic Data and Media Lock Replacement Scaffolding and Temporary Structures Windstorm The policy limits shall be no less than the awarded bid amount plus any approved Change Orders and coverage shall be provided on a completed value basis. Property located on the construction premises, which is intended to become a permanent part of the building, shall be included as property covered. The policy shall be endorsed permitting the CITY to occupy the building prior to completion without effecting the coverage. The CITY of CORAL SPRINGS shall be named as Additional Insured and Loss Payee. The Builder’s Risk Insurance shall be provided on or before the issuance of a Notice to Proceed.
Sample 1
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Builder’s Risk Insurance Requirements. Unless otherwise required, each builder’s risk insurance policy: shall be issued by an insurance carrier acceptable to City; shall be maintained in full force and effect throughout the entire Contract Time and until Final Completion of the Project; shall be an occurrence policy; and, shall be evidenced by a certificate of insurance and endorsements acceptable to City which provides that the coverage evidenced thereby shall not be substantially modified, suspended, voided, reduced, or canceled without twenty-eight (28) days' prior written notice to City. Minimum Scope and Limits of Insurance. CM@R shall provide coverage with limits of liability not less than those stated in this Contract below. Builder’s Risk Liability The policy shall include builder’s risk liability coverage in the amount of one-hundred percent (100%) of the final cost of any and all structures designed, constructed, and/or otherwise under this Contract, including all subsequent modifications. The builder’s risk insurance shall provide for the full cost of replacement the final cost of any and all structures designed, constructed, and/or otherwise under this Contract, including all subsequent modifications, at the time of any loss. Further, this insurance shall include interests of the City, Contractor and its subcontractors in the Project, and shall include, without limitation, insurance against the perils of fire and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, collapse, earthquake, flood, windstorm, falsework, testing and startup, temporary buildings and debris removal, including demolition occasioned by enforcement of any applicable legal requirements. This policy shall also cover any work performed by a City subcontractor as part of the Project. Contractor shall increase the coverage limits as necessary to reflect changes in the estimated replacement cost. The policy shall be endorsed to include City of Surprise and its departments, agencies, boards, commissions, officers, officials, agents, and employees as additional insureds with respect to liability arising out of the activities performed by or on behalf of CM@R. The policy shall contain a waiver of subrogation against City and its departments, agencies, boards, commissions, officers, officials, agents, and employees for losses arising from work performed by or on behalf of CM@R.
Sample 1

Related to Builder’s Risk Insurance Requirements

  • Builder’s Risk Insurance Contractor shall provide a Builder’s Risk Policy to be made payable to the Owner and Contractor, as their interests may appear. The policy amount should be equal to 100% of the Contract Sum, written on a Builder’s Risk “All Risk”, or its equivalent. The policy shall be endorsed as follows: The following may occur without diminishing, changing, altering or otherwise affecting the coverage and protection afforded the insured under this policy:

  • CONTRACTOR’S INSURANCE REQUIREMENTS The insurance requirements of this Contract are set forth in Appendix J and, if applicable, Appendix J.1.

  • Subcontractor Insurance Requirements Consultant shall require each of its subcontractors that perform Services under this Agreement to maintain insurance coverage that meets all of the requirements of this Section.

  • Contractor Insurance Requirements When performing Work on property in the care, custody, or control of the Judicial Council, the Contractor shall maintain all commercial general liability insurance, workers’ compensation insurance, and any other insurance the Judicial Council deems appropriate under the Agreement. Upon request from the Judicial Council, the Contractor shall furnish an insurance certificate evidencing required insurance coverage acceptable to the Judicial Council. The Contractor may also be required to have the Judicial Council shown as an additional insured on selected policies.

  • Insurance Requirement; Coverages Borrower must keep the improvements now existing or subsequently erected on the Property insured against loss by fire, hazards included within the term “extended coverage,” and any other hazards including, but not limited to, earthquakes, winds, and floods, for which Lender requires insurance. Borrower must maintain the types of insurance Lender requires in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan, and may exceed any minimum coverage required by Applicable Law. Borrower may choose the insurance carrier providing the insurance, subject to Xxxxxx’s right to disapprove Borrower’s choice, which right will not be exercised unreasonably.

  • Minimum Insurance Requirements Contractor shall procure and maintain for the duration of the contract insurance against claims for injuries or death 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 Contractor, his agents, representatives, employees or sub-contractors. Coverage - Coverage shall be at least as broad as the following:

  • Insurance Requirements Vendor agrees to maintain the following minimum insurance requirements for the duration of this Agreement. All policies held by Vendor to adhere to this term shall be written by a carrier with a financial size category of VII and at least a rating of “A‐” by A.M. Best Key Rating Guide. The coverages and limits are to be considered minimum requirements and in no way limit the liability of the Vendor(s). Any immunity available to TIPS or TIPS Members shall not be used as a defense by the contractor's insurance policy. Only deductibles applicable to property damage are acceptable, unless proof of retention funds to cover said deductibles is provided. "Claims made" policies will not be accepted. Vendor’s required minimum coverage shall not be suspended, voided, cancelled, non‐renewed or reduced in coverage or in limits unless replaced by a policy that provides the minimum required coverage except after thirty (30) days prior written notice by certified mail, return receipt requested has been given to TIPS or the TIPS Member if a project or pending delivery of an order is ongoing. Upon request, certified copies of all insurance policies shall be furnished to the TIPS or the TIPS Member. Vendor agrees that when Vendor or its subcontractors are liable for any damages or claims, Vendor’s policy, shall be primary over any other valid and collectible insurance carried by the Member or TIPS. General Liability: $1,000,000 each Occurrence/Aggregate Automobile Liability: $300,000 Includes owned, hired & non‐owned Workers' Compensation: Statutory limits for the jurisdiction in which the Vendor performs under this Agreement. If Vendor performs in multiple jurisdictions, Vendor shall maintain the statutory limits for the jurisdiction with the greatest dollar policy limit requirement. Umbrella Liability: $1,000,000 each Occurrence/Aggregate

  • Builder’s Risk additional provisions The insurance specified shall be maintained in force until final acceptance of the project by the State.

  • Other Insurance Requirements (a) Thirty (30) days’ advance written notice shall be provided to the City of cancellation, intended non-renewal, or reduction in coverages, except for non-payment for which no less than ten (10) days’ notice shall be provided to City. Notices shall be sent to the City address set forth in Section 11.1 entitled “Notices to the Parties.”

  • Additional Insurance Requirements The policies shall include, or be endorsed to include, the following provisions:

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