Independent Insurance. Notwithstanding any other provision of this Article 17, from the Effective Date until the date of a Project Sanction AFE, each Member shall, for its own account, maintain and pay for insurance coverage from reputable insurance companies necessary to protect itself and its Ownership Interest. After the date of a Project Sanction AFE, each Member may, for its own account, provide, maintain and pay for any form of insurance coverage (including any internal insurance products such Member has available to it, from time to time) which that Member in its discretion deems necessary or desirable to protect itself or its Ownership Interest. Any Member placing coverage pursuant to this Section 17.1 shall ensure that each policy of insurance waives any right of the insurer to proceed, by subrogation or otherwise, against the Company, the other Members and their respective Affiliates.
Independent Insurance. During the term of its charter, Academy of Advanced Learning shall maintain insurance coverage either purchased in its own right or through the School District. Such insurance shall include a comprehensive general liability policy including personal injury with limits of not less than $1 million ($1,000,000) each occurrence for bodily injury and property damage; $1 million ($1,000,000) each occurrence personal injury and advertising injury; and $3 million ($3,000,000) general aggregate. Automobile liability including hired and non-owned autos with limits of not less than $1 million ($1,000,000) combined single limit each accident for bodily injury and property damage. Workers’ compensation and employer's liability insurance shall also be in effect with limits of not less than $1 million ($1,000,000) each accident for bodily injury by accident; $1 million ($1,000,000) policy limit for bodily injury by disease and $1 million ($1,000,000) each employee for bodily injury by disease. For any insurance not purchased through the School District, Academy of Advanced Learning must provide the School District risk management office with certificates of insurance for each type of coverage within a week of the time such coverages are bound. All coverages shall include all employees and authorized volunteers of Academy of Advanced Learning; in addition, the school's Errors and Omissions coverage must include all members of the Governing Board. Any insurance company that insures Academy of Advanced Learning must be rated at least an A-VIII by A.M. Best Company. If any coverage is canceled or changed in any way, Academy of Advanced Learning shall immediately notify both the Superintendent's office and risk management office of the change. If the compulsory insurance laws of the State of Colorado require higher limits for any such coverage, Academy of Advanced Learning shall be required to comply.
Independent Insurance. During the term of its charter, DSST shall maintain insurance coverage either purchased in its own right or through the School District. Such insurance shall include comprehensive general liability coverage, including automobile liability, personal injury and property damage with limits of not less than $1 million ($1,000,000) each claim and a combined single limit of not less than $2 million ($2,000,000) per occurrence. Workers’ compensation and employer's liability insurance shall also be in effect. The employer's liability coverage shall have limits of not less than $1 million ($1,000,000) each claim, and a combined single limit of not less than $2 million ($2,000,000) per occurrence. For any insurance not purchased through the School District, DSST must provide the School District risk management office with certificates of insurance for each type of coverage within a week of the time such coverages are bound. All coverages shall include all employees and authorized volunteers of DSST; in addition, the school's Errors and Omissions coverage must include all members of the Governing Board. Any insurance company that insures DSST must be rated at least an A-VIII by A.M. Best Company or otherwise be reasonable within the industry. If any coverage is canceled or changed in any material way, DSST shall immediately notify both the Superintendent's office and risk management office of the change. If the compulsory insurance laws of the State of Colorado require higher limits for any such coverage, DSST shall be required to comply.
