Common use of INSURANCE The Insurances Clause in Contracts

INSURANCE The Insurances. 17.1 WEPCo shall procure at its own cost that the insurances, details of which are set out in Schedule 9 (Insurances), are taken out and are maintained for the term of this Agreement provided that WEPCo shall not be required to maintain such of those insurances as are unavailable within the worldwide insurance market with reputable insurers of good standing (provided always such unavailability is not caused by the actions of WEPCo) or which are offered on terms such that the risk is not generally being insured against in the worldwide insurance market. 17.2 Without prejudice to the other provisions of this clause, WEPCo shall, at all relevant times, at its own cost, effect and maintain in full force those insurances which it is required to effect by any applicable Law. 17.3 All Insurances shall: 17.3.1 be placed with insurers who are: (a) insurers of good financial standing; (b) appropriately regulated; (c) of good repute in the international insurance market; and (d) acceptable to the Participants (such acceptance not to be unreasonably withheld or delayed, taking into account Clause 17.3.1(a) to (c) above); and