Common use of Developer’s Insurance Clause in Contracts

Developer’s Insurance. Developer shall provide the following insurance coverages at all times during the Term and furnish a certificate of insurance to CRA evidencing: (a) Worker’s Compensation insurance coverage in accordance with Florida statutory requirements. (b) Employers’ Liability insurance coverage with limits of $500,000 for bodily injury by accident per accident/$500,000 for bodily injury by disease per employee/$500,000 for bodily injury by disease policy limit. (c) Commercial general liability insurance coverage with limits of no less than $1,000,000 per occurrence and $2,000,000 in the aggregate, which policy shall include coverage of the contractual liabilities contained in this Agreement. (d) Business Auto Liability including hired and non-owned auto coverage with minimum limits of $1,000,000 combined single limit. (e) Builder’s risk insurance (including flood insurance) during any period of construction of improvements upon the Property insuring such improvements against all casualties on a progressively insured basis for not less than 100% of the replacement cost. (f) Umbrella/excess liability insurance coverage, with limits of no less than $5,000,000 per occurrence and $5,000,000 in the aggregate. The certificate shall provide that CRA will be given at least thirty (30) days prior written notice of cancellation of the policy. The cost of the Developer’s insurance shall be included in the Pre-Development Budget and Development Budget as a Project expense.

Developer’s Insurance. Developer shall provide maintain the following insurance coverages at all times during the Term and furnish a certificate of insurance to CRA evidencing: (a) Worker’s Compensation insurance coverage in accordance with Florida statutory requirements. (b) Employers’ Liability insurance coverage with limits of $500,000 for bodily injury by accident per accident/$500,000 for bodily injury by disease per employee/$500,000 for bodily injury by disease policy limit. (c) Commercial general liability insurance coverage with limits of no less than $1,000,000 per occurrence and $2,000,000 in the aggregate, which policy shall include coverage of the contractual liabilities contained in this Agreement. (d) Business Auto Liability including hired and non-owned auto coverage with minimum limits of $1,000,000 combined single limit. (e) Builder’s risk insurance (including flood insurance) during any period of construction of improvements upon the Property insuring such improvements against all casualties on a progressively insured basis for not less than 100% of the replacement cost. (f) Umbrella/excess liability insurance coverage, with limits of no less than $5,000,000 $ per occurrence and $5,000,000 $ in the aggregate. The certificate shall provide that CRA will be given at least thirty (30) days prior written notice of cancellation of the policy. The cost of the Developer’s insurance shall be included in the Pre-Development Budget and Development Budget as a Project expense.