INSURANCE AND RELATED REQUIREMENTS. The Vendor shall obtain and maintain the minimum insurance coverages set forth below. By requiring such minimum insurance, University shall not be deemed or construed to have assessed the risk that may be applicable to the Vendor arising from Vendor’s business operation. The Vendor shall assess its own risks and if it deems appropriate and/or prudent, maintain higher limits and/or broader coverages. The Vendor is not relieved of any liability or other obligations assumed or pursuant to the Agreement by reason of its failure to obtain or maintain insurance in sufficient amounts, duration, or types.
INSURANCE AND RELATED REQUIREMENTS. The Vendor shall obtain and maintain the minimum insurance coverages set forth below. By requiring such minimum insurance, University shall not be deemed or construed to have assessed the risk that may be applicable to the Vendor arising from Vendor’s business operation. The Vendor shall assess its own risks and if it deems appropriate and/or prudent, maintain higher limits and/or broader coverages. The Vendor is not relieved of any liability or other obligations assumed or pursuant to the Agreement by reason of its failure to obtain or maintain insurance in sufficient amounts, duration, or types. Minimum insurance coverages are as follows: Commercial General Liability $1,000,000/occurrence $2,000,000/aggregate Automobile Liability $1,000,000/occurrence Workers’ Compensation Statutory and Employer’s Liability $100,000/$500,000/$100,000 The company must be at least A-, VIII rated by A.M. Best Company. The Vendor may satisfy the minimum liability limits required for Commercial General Liability or Business Auto Liability under an Umbrella or Excess Liability policy. There is no minimum per occurrence limit of liability under the Umbrella or Excess Liability; however, the Annual Aggregate limit shall not be less than the highest “Each Occurrence” limit for either Commercial General Liability or Business Auto Liability. Contractor agrees to endorse the University as an Additional Insured on the Umbrella or Excess Liability, unless the Certificate of Insurance state the Umbrella or Excess Liability provides coverage on a “Follow-Form” basis. Certificate of Insurance The certificate must be sent to: XXX@xxxxxxxxxxx.xxx or fax at: +0 (000) 000-0000. Vendor shall defend, indemnify, and hold harmless the University, its officers, agents, and employees from and against any and all claims, damages, costs, expenses, including reasonable attorneys’ fees, losses or liabilities, arising out of or in any way connected to the use of University property or for services provided on University property, without limitation, claims for loss or damage to property, or for death or injury to any person or persons. SAMPLE This agreement shall be governed and interpreted by the laws of the State of Missouri. The parties agree to the personal jurisdiction of the courts of Xxxxx County, Missouri and waive any objections thereto. HAVING READ AND UNDERSTOOD THIS AGREEMENT, the parties have signed this Agreement and caused it to be executed in duplicate, with each of the copies to be con...
INSURANCE AND RELATED REQUIREMENTS
