Common use of Documentation of Insurance Premium Rate Increases Clause in Contracts

Documentation of Insurance Premium Rate Increases. To show increases in the premiums rates for automobile liability insurance, comprehensive general liability insurance, employee health care insurance, unemployment insurance and/or Worker's Compensation Insurance the Contractor must submit with its annual Insurance Premium Rate Increase Claim Statement copies of the full insurance policies and copies of all invoices from the insurance carriers, governmental agencies and/or health/welfare funds noting the full amounts of premiums and other costs on per vehicle and per employee bases, as applicable, that are the subject of the Contractor's claims. To be eligible for partial or total suspension of the two percent (2%) prompt payment discount, the Contractor must be able to demonstrate the following:

Documentation of Insurance Premium Rate Increases. To show increases in the premiums rates for automobile liability insurance, comprehensive general liability insurance, employee health care insurance, unemployment insurance and/or Worker's ’s Compensation Insurance the Contractor must submit with its annual Insurance Premium Rate Increase Claim Statement copies of the full insurance policies and copies of all invoices from the insurance carriers, governmental agencies and/or health/welfare funds noting the full amounts of premiums and other costs on per vehicle and per employee bases, as applicable, that are the subject of the Contractor's ’s claims. To be eligible for partial or total suspension of the two percent (2%) prompt payment discount, the Contractor must be able to demonstrate the following: