Common use of Insurance and Claims Clause in Contracts

Insurance and Claims. (a) The premium of any insurance policy secured by Contractor or Operator pursuant to this Contract. (b) Any costs sustained by Contractor or Operator arising out of an event covered by insurance. Such costs include, but are not limited to, repairs and replacements of Materials in the Contract Area resulting from damage or loss incurred because of fire, flood, storm, theft, accident, or any other similar risk. (c) All costs and expenses associated with suing, working or travelling for, or any other cost incurred in consequence of, or because of insurance related disputes, claims or litigation with any party including any insurer and/or any insurer’s representatives or agents to the extent that such costs and expenses are not refunded for whatever reasons, by insurance and/or not awarded by an arbitrator or a court of law. (d) Any compensation received, or any claim collected from insurers or third parties shall be credited to the Operating Account. If no insurance is carried for a particular risk, all related actual expenditures incurred and paid by Contractor or Operator in settling any and all losses, claims, damages, judgement and other expenses, including related legal expenditures. Any such loss, claim or damage shall be charged to the Operating Account unless otherwise provided for under Article 24.7 of this Contract.

Insurance and Claims. (a) The premium of any insurance policy secured by Contractor or Operator pursuant to this Contract. (b) Any costs sustained by Contractor or Operator arising out of an event covered by insurance. Such costs include, but are not limited to, repairs and replacements of Materials in the Contract Area resulting from damage or loss incurred because of fire, flood, storm, theft, accident, or any other similar risk. (c) All costs and expenses associated with suing, working or travelling for, or any other cost incurred in consequence of, or because of insurance related disputes, claims disputes or litigation with any party including any insurer and/or any insurer’s representatives or agents to the extent that such costs and expenses are not refunded for whatever reasons, by insurance and/or not awarded by an arbitrator or a court of law. (d) Any compensation received, or any claim collected from insurers or third parties shall be credited to the Operating Account. If no insurance is carried for a particular risk, all related actual expenditures incurred and paid by Contractor or Operator in settling any and all losses, claims, damages, judgement and other expenses, including related legal expenditures. Any such loss, claim or damage shall be charged to the Operating Account unless otherwise provided for under Article 24.7 it is a direct result of Contractor’s failure to act in accordance with the standards of insurance required by this ContractContract or instructions of the JMC.

Insurance and Claims. (a) The premium of any insurance policy secured by Operator and/or Contractor or Operator pursuant to this the Contract. (b) Any costs sustained by Contractor or and Operator arising out of an event covered by insurance. Such costs include, but are not limited to, repairs and replacements of Materials in the Contract Area resulting from damage damages or loss losses incurred because of fire, flood, storm, theft, accident, or any other similar risk. (c) All costs and expenses associated with suing, working or travelling for, or any other cost incurred in consequence of, or because of insurance related disputes, claims disputes or litigation with any party including any insurer and/or any insurer’s representatives or agents to the extent that such costs and expenses are not refunded for whatever reasons, by insurance and/or not awarded by an arbitrator or a court of law. (d) Any compensation received, or any claim collected from insurers or third parties shall be credited to the Operating Account. If no insurance is carried for a particular risk, all related actual expenditures incurred and paid by Contractor or Operator in settling any and all losses, claims, damages, judgement judgment and other expenses, including related legal expenditures. Any such loss, claim or damage shall be charged to the Operating Account unless otherwise provided for under it is a result of Contractor's and/or Operator’s failure to put in place insurance as contemplated by Article 24.7 of this Contract24.5 or as directed by the JMC or BOD.