ITC Insurance Sample Clauses

ITC Insurance. Without limiting ITC's liability to UBOC or ------------- third parties hereunder, ITC agrees to maintain the following insurance coverages with insurance carriers with an A.M. Best rating of at least A-VII, or otherwise acceptable to UBOC, in UBOC's sole discretion. All insurance shall include a Primary and Non-Contributing Endorsement. (a) All insurance coverages required by federal, state or local law, and statute, including Worker's Compensation Insurance and Employers' Liability Insurance. Such Employers' Liability Insurance shall provide limits of at least $1,000,000 for each person. (b) Comprehensive or Commercial General Liability Insurance, including coverage for Products and Completed Operations, Independent Contractors, and Personal Injury; and Blanket Contractual Liability coverage for all obligations undertaken by ITC to UBOC under this agreement. (c) Comprehensive Automobile Liability Insurance including coverage for Owned, Hired, and Non-Owned Automobile Liability, with Combined Bodily Injury and Property Damage coverage limits of at least $5,000,000 per occurrence, naming UBOC as Additional Insured. (d) Professional Liability Insurance, also known as Errors and Omissions Insurance, with limits of not less than $5,000,000. (e) Financial Institution Bond, including Fidelity Coverage, On-Premises, In-Transit, Forgery or Alteration, and Computer Crime coverages, for a limit of at least $10,000,000 per occurrence. (f) All Risk Property Insurance, including valuable papers and sprinkler leakage coverage, with the limit of at least 90% of the replacement cost of property. UBOC shall be named as a Loss Payee, as its interests may appear. Within ten (10) days after the commencement of the Transition Period, ITC shall provide to UBOC certificates of insurance evidencing such required insurance coverages and naming UBOC as Additional Insured (for coverages required by items (b) and (c) above). Said certificates shall include a provision whereby the insurance carrier is required to provide directly to UBOC thirty (30) days advance written notice before termination, change or cancellation of coverage takes effect for such policies evidenced on such certificates, regardless of whether cancelled by ITC or by its insurance carrier. The insurer of each policy shall waive, and ITC hereby waives, all rights of recovery or subrogation against UBOC which might arise with regard to damage or loss which is insured against under any insurance policies in force at ...
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Related to ITC Insurance

  • FDIC Insurance For any deposit accounts you open, the FDIC requires Bank to disclose, and you hereby acknowledge, that deposits held by Evolve Bank & Trust are insured up to $250,000 federal deposit insurance limit, per depositor for each ownership category.

  • Umbrella Insurance During the term of this Contract, Supplier will maintain umbrella coverage over Employer’s Liability, Commercial General Liability, and Commercial Automobile. Minimum Limits: $2,000,000

  • Group Insurance All employees covered by this Agreement shall receive the same group insurance benefits as provided to other County employees in accordance with the County Benefit Program.

  • Tail Insurance Buyer shall deliver evidence of its tail insurance coverage required by Section 6.13 hereof.

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Trauma Insurance All employees will be covered by an Incolink administered lump sum insurance policy providing financial compensation in the event of a major work related (ie. WorkCover) accident resulting in death or permanent total disablement. The full and precise conditions of this cover will be in accordance with the terms of the policy, but in general will provide that, in the event of a workplace accident occurring which results in either the death or total permanent disablement of a worker covered by this Agreement, a lump sum payment as specified below will made. The defined payments are: With dependants $250,000 Without dependants $150,000 This benefit has been agreed to by the company on the grounds that premium costs have been set at $7 per week/worker and will not exceed that amount. In the event of insurance costs rising, it is agreed that the table of defined benefits will be reduced so as to maintain the $7 premium figure. To maintain this cover the company agrees to pay the amounts every week for each employee.

  • Crime Insurance Contractor shall maintain during the term of the Contract Crime Insurance on a “loss sustained form” or “loss discovered form,” and coverage must include the following:  The policy must allow for reporting of circumstances or incidents that might give rise to future claims.  The policy must include an extended reporting period of no less than one (1) year with respect to events which occurred but were not reported during the term of the policy.  Any warranties required by the Contractor’s insurer as a result of this Contract must be disclosed and complied with. Said insurance shall extend coverage to include the principals (all directors, officers, agents and employees) of the Contractor as a result of this Contract.  The policy shall include coverage for third party fidelity and name “The People of the State of New York, the New York State Office of General Services, any entity authorized by law or regulation to use this Contract as an Authorized User and their officers, agents, and employees” as “Loss Payees” for all third party coverage secured. This requirement applies to both primary and excess liability policies, as applicable.  The policy shall not contain a condition requiring an arrest and conviction.  The policy shall include coverage for computer crime/fraud.

  • Travel Insurance The Employer shall provide and pay the full cost for travel insurance to cover all members of the bargaining unit for all modes of travel, in the amount of $200,000.00. The travel insurance policy shall also cover employees while on union business.

  • Comprehensive General Liability Insurance The Lessee shall procure and maintain a valid Comprehensive General Liability Insurance indemnifying the Lessor with minimum coverage of $ for personal injury and $ for damage to property.

  • Fire Insurance The LESSEE shall not permit any use of the leased premises which will make voidable any insurance on the property of which the leased premises are a part, or on the contents of said property or which shall be contrary to any law or regulation from time to time established by the New England Fire Insurance Rating Association, or any similar body succeeding to its powers. The LESSEE shall on demand reimburse the LESSOR, and all other tenants, all extra insurance premiums caused by the LESSEE's use of the premises.

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