Common use of General Requirements for Insurance Policies Clause in Contracts

General Requirements for Insurance Policies. Licensee shall pay the cost of all insurance coverage which Licensee is required to produce and maintain under this Agreement. Except where Licensee is self-insured, each insurance policy shall: a) be issued by an insurer authorized to transact casualty insurance in Georgia; b) be issued by an insurer with a current Best Policyholder’s Rating of “A” or better and with a financial six rating of class “XI” or larger by A. M. Best Company, Inc.; c) be issued on such form of policy, authorized in Georgia, as Licensor may reasonably approve; d) provide that the policy cannot be canceled as to Licensor except after the insurer gives Licensor thirty (30) days prior written notice of cancellation; e) state that notice of any claim against Licensor shall be deemed to have occurred only when an officer of Licensor has received actual notice, and has actual knowledge of the claim; f) not be subject to invalidation as to Licensor by reason of any act or omission of Licensee or any of Licensee's officers, employees or agents; and g) Not be subject to invalidation as to Licensee by reason of any act or omission of Licensor or any of Licensor's officers, employees or agents. Each policy required by this Agreement shall also contain a provision permitting Licensee to waive all rights of recovery and claims by way of subrogation, substantially in the following form: "This insurance policy shall not be invalidated should the insured waive in writing prior to a loss any or all right of recovery against any other insured herein, for loss covered by this policy.” Licensee shall not produce or maintain in force any insurance policy which might have the effect of reducing the loss payable under any of the policies required by this Agreement. Upon the request of Licensor, Licensee shall deliver a certificate of such self-insurance or insurance policy to Licensor, together with evidence reasonably satisfactory to Licensor that the premiums, as applicable, have been paid for a period at least covering the Permit Term.

General Requirements for Insurance Policies. Licensee shall pay the cost of all insurance coverage which Licensee is required to produce and maintain under this Agreement. Except where Licensee is self-insured, each insurance policy shall: a) be issued by an insurer authorized to transact casualty insurance in Georgia; b) be issued by an insurer with a current Best Policyholder’s Rating of “A” or better and with a financial six rating of class “XI” or larger by A. M. Best Company, Inc.; c) be issued on such form of policy, authorized in Georgia, as Licensor may reasonably approve; d) provide that the policy cannot be canceled as to Licensor except after the insurer gives Licensor thirty (30) days prior written notice of cancellation; e) state that notice of any claim against Licensor shall be deemed to have occurred only when an officer of Licensor has received actual notice, and has actual knowledge of the claim; f) not be subject to invalidation as to Licensor by reason of any act or omission of Licensee or any of Licensee's officers, employees or agents; and g) Not not be subject to invalidation as to Licensee by reason of any act or omission of Licensor or any of Licensor's officers, employees or agents. Each policy required by this Agreement shall also contain a provision permitting Licensee to waive all rights of recovery and claims by way of subrogation, substantially in the following form: "This insurance policy shall not be invalidated should the insured waive in writing prior to a loss any or all right of recovery against any other insured herein, for loss covered by this policy.” . Licensee shall not produce or maintain in force any insurance policy which might have the effect of reducing the loss payable under any of the policies required by this Agreement. Upon the request of Licensor, Licensee shall deliver a certificate of such self-insurance or insurance policy to Licensor, together with evidence reasonably satisfactory to Licensor that the premiums, as applicable, have been paid for a period at least covering the Permit TermLicense Period.

General Requirements for Insurance Policies. Licensee shall pay the cost of all insurance coverage which Licensee is required to produce and maintain under this Agreement. Except where Licensee is self-insured, each insurance policy shall: a) : be issued by an insurer authorized to transact casualty insurance in Georgia; b) ; be issued by an insurer with a current Best Policyholder’s Rating of “A” or better and with a financial six rating of class “XI” or larger by A. M. Best Company, Inc.; c) ; be issued on such form of policy, authorized in Georgia, as Licensor may reasonably approve; d) ; provide that the policy cannot be canceled as to Licensor except after the insurer gives Licensor thirty (30) days prior written notice of cancellation; e) ; state that notice of any claim against Licensor shall be deemed to have occurred only when an officer of Licensor has received actual notice, and has actual knowledge of the claim; f) ; not be subject to invalidation as to Licensor by reason of any act or omission of Licensee or any of Licensee's officers, employees or agents; and g) and Not be subject to invalidation as to Licensee by reason of any act or omission of Licensor or any of Licensor's officers, employees or agents. Each policy required by this Agreement shall also contain a provision permitting Licensee to waive all rights of recovery and claims by way of subrogation, substantially in the following form: "This insurance policy shall not be invalidated should the insured waive in writing prior to a loss any or all right of recovery against any other insured herein, for loss covered by this policy.” Licensee shall not produce or maintain in force any insurance policy which might have the effect of reducing the loss payable under any of the policies required by this Agreement. Upon the request of Licensor, Licensee shall deliver a certificate of such self-insurance or insurance policy to Licensor, together with evidence reasonably satisfactory to Licensor that the premiums, as applicable, have been paid for a period at least covering the Permit Term.