Common use of Contractor Insurance Requirements Clause in Contracts

Contractor Insurance Requirements. Contractor shall be required to procure, at its sole cost and expense, all insurance required by this section. Contractor shall be required to provide proof of compliance with the requirements of this section, as follows: • Proof of all insurances required by this section shall be provided at the time of required documents submission; • Proof of all other insurance shall be provided in accordance with Section B below; • After award, the Contractor shall be required to provide proof of all insurance after renewal or upon request according to the timelines set forth in Section A.13 below. Contractor shall be required to procure, at their sole cost and expense, and shall maintain in force at all times during the term of the Contract, policies of insurance as required by this section. All insurance required by this section shall be written by companies that have an A.M. Best Company rating of “A-,” Class “VII” or better. In addition, companies writing insurance intended to comply with the requirements of this section should be licensed or authorized by the New York State Department of Financial Services to issue insurance in the State of New York. OGS may, in its sole discretion, accept policies of insurance written by a non-authorized carrier or carriers when certificates and/or other policy documents are accompanied by a completed Excess Lines Association of New York (ELANY) affidavit or other documents demonstrating the company’s strong financial rating. If, during the term of a policy, the carrier’s A.M. Best rating falls below “A-,” Class “VII,” the insurance must be replaced, on or before the renewal date of the policy, with insurance that meets the requirements above. Contractors shall deliver to OGS evidence of the insurance required by the Contract in a form satisfactory to OGS. Policies must be written in accordance with the requirements of the paragraphs below, as applicable. While acceptance of insurance documentation shall not be unreasonably withheld, conditioned or delayed, acceptance and/or approval by OGS does not, and shall not be construed to relieve Contractors of any obligations, responsibilities or liabilities under the Contract. The Contractor shall not take any action or omit to take any action that would suspend or invalidate any of the required coverages during the term of the Contract.

Contractor Insurance Requirements. Contractor shall be required to procure, at its sole cost and expense, all A. Licensor requires that the following insurance required by this section. Contractor shall be required to provide proof of compliance with the requirements of this section, as follows: • Proof of all insurances required by this section shall coverage be provided at the time of required documents submission; • Proof of all other insurance shall be provided in accordance with Section B below; • After award, prior to any entry and/or work within Licensor’s property and maintained by the Contractor shall be required to provide proof of all insurance after renewal or upon request according to the timelines set forth in Section A.13 below. Contractor shall be required to procure, at their sole cost and expense, and shall maintain in force at all times during the term until completion of the Contractwork. Licensor or its designee, policies may at any time request evidence of insurance as required purchased by this section. All insurance required by this section shall be written by companies that have an A.M. Best Company rating of “A-,” Class “VII” or better. In addition, companies writing insurance intended Contractor to comply with the requirements Agreement. Securing such insurance shall not limit Contractor’s liability under the Agreement but shall be a security therefor. (i) Statutory Worker's Compensation and Employers Liability Insurance with available limits of this section should not less than ONE MILLION AND 00/100 U.S. DOLLARS ($1,000,000.00), which must contain a waiver of subrogation against Licensor and its Affiliates; (ii) Commercial General Liability coverage (inclusive of contractual liability) with available limits of not less than FIVE MILLION AND 00/100 U.S. DOLLARS ($5,000,000.00), naming Licensor, and/or its designee, as additional insured and in combined single limits for bodily injury and property damage and covering the contractual liabilities assumed under the Agreement. The evidence of insurance coverage shall be licensed endorsed to provide for thirty (30) days' notice to Licensor, or authorized its designee, prior to cancellation or modification of any policy. If Contractor’s existing CGL policy(ies) do(es) not automatically cover Contractor’s contractual liability during periods of survey, installation, maintenance and continued occupation, a specific endorsement adding such coverage shall be purchased by Contractor. If said CGL policy is written on a "claims made" basis instead of a "per occurrence" basis, Contractor shall arrange for adequate time for reporting losses. Failure to do so shall be at Contractor’s sole risk; (iii) Business automobile liability insurance with available limits of not less than ONE MILLION AND 00/100 U.S. DOLLARS ($1,000,000.00) combined single limit for bodily injury and/or property damage per occurrence; (iv) Such other insurance as Licensor may reasonably require. B. Licensee may require its Contractor performing the New York State Department work cover its requirement for Railroad Protective Liability (“RPL”) Insurance coverage. In the event Contractor will be responsible for procuring and maintaining RPL the following shall apply: (i) Contractor shall procure and maintain during the period of Financial Services construction or demolition operations, at no cost to issue insurance in Licensor, Railroad Protective Liability (RPL) Insurance, naming Licensor, and/or its designee, as Named Insured, written on the State current ISO/RIMA Form (ISO Form No. CG 00 35 01 96) with limits of New YorkFIVE MILLION AND 00/100 U.S. DOLLARS ($5,000,000.00) per occurrence for bodily injury and property damage, with at least TEN MILLION AND 00/100 U.S. DOLLARS ($10,000,000.00) aggregate limit per annual policy period, with Pollution Exclusion Amendment (ISO CG 28 31 11 85) if an older ISO Form CG 00 35 is used. OGS mayThe original of such RPL policy shall be sent to and approved by Licensor prior to commencement of such construction or demolition. Licensor reserves the right to demand higher limits. (ii) At Licensor’s option, in its sole discretionlieu of purchasing RPL insurance from an insurance company (but not CGL insurance), accept policies Contractor may pay Licensor, at Licensor’s current rate at time of insurance written by a non-authorized carrier or carriers when certificates and/or other policy documents are accompanied by a completed Excess Lines Association of New York (ELANY) affidavit or other documents demonstrating the company’s strong financial rating. If, during the term of a policyrequest, the carriercost of adding this Encroachment, or additional construction and/or demolition activities, to Licensor’s A.M. Best rating falls below “A-,” Class “VII,” Railroad Protective Liability (RPL) Policy for the insurance must period of actual construction. This coverage is offered at Licensor’s discretion and may not be replaced, on or before available under all circumstances. C. Notwithstanding the renewal date provisions of Sections 10.1 and 10.2 of the policyAgreement, with insurance that meets the requirements above. Contractors shall deliver Licensee only, pursuant to OGS evidence State Statute(s), may self-insure or self-assume, in any amount(s), any contracted liability arising under this Agreement, under a funded program of the insurance required self-insurance, which fund will respond to liability of Licensee imposed by the Contract in a form satisfactory to OGS. Policies must be written and in accordance with the requirements of the paragraphs below, as applicable. While acceptance of insurance documentation shall not be unreasonably withheld, conditioned or delayed, acceptance and/or approval procedures established by OGS does not, and shall not be construed to relieve Contractors of any obligations, responsibilities or liabilities under the Contract. The Contractor shall not take any action or omit to take any action that would suspend or invalidate any of the required coverages during the term of the Contractlaw.