Common use of Insurance of Contract Work Clause in Contracts

Insurance of Contract Work. Contractor shall take out necessary insurance Policy/Policies (viz Contractor's all risk Insurance policy, Erection all risk insurance policy etc as decided by the Directorate of insurance.) so as to provide adequate insurance cover for execution of the awarded contract work for total contract value and complete contract period compulsorily from the " Directorate of insurance, Maharashtra State ,Mumbai" only. Its Postal address for correspondence is 264, MHADA ,Xxxxx xxxxx ,Xxx .Xxxxxxxxx, Xxxxxx (X) Xxxxxx 000000 (Telephone Nos 00000000 / 00000000 and Fax No 00000000/00000000) Similarly all workmen's appointed to completed the contract work are required to insure under workmen's compensation Insurance policy. Insurance Policy/Policies taken out from any other company will not be accepted. If any Contractor has effected Insurance with any insurance company, the same will not be accepted and the amount of premium calculated by the Government Insurance fund will be recovered directly from the amount payable to the contractor for executed contract work and paid to the Directorate of Insurance fund, Maharashtra State. Mumbai .The Director of Insurance reserves the right to distribute the risk of Insurance among the other insures..

Insurance of Contract Work. Contractor shall take out necessary insurance Policy/Policies (viz Contractor's all risk Insurance policy, Erection all risk insurance policy etc as decided by the Directorate of insurance.) so as to provide adequate insurance cover for execution of the awarded contract work for total contract value and complete contract period compulsorily from the " Directorate of insurance, Maharashtra State ,Mumbai" only. Its Postal address for correspondence is 264, MHADA ,Xxxxx xxxxx First floor ,Xxx .Xxxxxxxxx.Xxxx xxxxx, Xxxxxx (X) Xxxxxx 000000 (Telephone Nos 00000000 / 00000000 and Fax No 00000000/00000000) Similarly all workmen's appointed to completed the contract work are required to insure under workmen's compensation Insurance policy. Insurance Policy/Policies taken out from any other company will not be accepted. If any Contractor has effected Insurance with any insurance company, the same will not be accepted and the amount of premium calculated by the Government Insurance fund will be recovered directly from the amount payable to the contractor for executed contract work and paid to the Directorate of Insurance fund, Maharashtra State. Mumbai .The Director of Insurance reserves the right to distribute the risk of Insurance among the other insures..