Common use of Liability Insurance “Claims Made” Basis Clause in Contracts

Liability Insurance “Claims Made” Basis. If the liability insurance purchased by Seller has been issued on a “claims made” basis, Seller shall comply with the following additional conditions. The limits of liability and the extensions to be included as provided in this Section 9.1 remain the same. Seller must either: (A) Agree to provide certificates of insurance evidencing the coverage required in this Section 9.1 for a period of two (2) years after final payment hereunder. This certificate shall evidence a “retroactive date” no later than the beginning of Seller’s or its Subcontractors’ work hereunder, or a copy of the endorsement itself; or (B) Purchase the extended reporting period endorsement for the policy or policies in force during the Term and evidence the purchase of this extended reporting period endorsement by means of a certificate of insurance or a copy of the endorsement itself.

Liability Insurance “Claims Made” Basis. If the liability insurance purchased by Seller has been issued on a “claims made” basis, Seller shall comply with the following additional conditions. The limits of liability and the extensions to be included as provided in this Section Section 9.1 remain the same. Seller must either: (A) Agree to provide certificates of insurance evidencing the coverage required in this Section 9.1 for a period of two (2) years after final payment hereunder. This certificate shall evidence a “retroactive date” no later than the beginning of Seller’s or its Subcontractors’ work hereunder, or a copy of the endorsement itself; or (B) Purchase the extended reporting period endorsement for the policy or policies in force during the Term and evidence the purchase of this extended reporting period endorsement by means of a certificate of insurance or a copy of the endorsement itself.

Liability Insurance “Claims Made” Basis. If the liability insurance purchased by Seller has been issued on a “claims made” basis, Seller shall comply with the following additional conditions. The limits of liability and the extensions to be included as provided in this Section 9.1 remain the same. Seller must either: (A) Agree to provide certificates of certificatesof insurance evidencing the coverage required in this Section 9.1 for a period of two (2) years after final payment hereunder. This certificate shall evidence a “retroactive date” no later than the beginning of Seller’s or its Subcontractors’ work hereunder, or a copy of the endorsement itself; or (B) Purchase the extended reporting period endorsement for the policy or policies in force during the Term and evidence the purchase of this extended reporting period endorsement by means of a certificate of insurance or a copy of the endorsement itself.