Common use of Obligation to maintain insurance Clause in Contracts

Obligation to maintain insurance. At all times during the term of this Agreement, Developer shall maintain in full force and effect the following policies of insurance with the indicated minimum limits: (a) Professional Liability: $1,000,000 per claim/annual aggregate. The professional liability policy shall give Developer an irrevocable right to purchase tail coverage extending for a minimum of five years after the end of the last claims made policy purchased from any professional liability insurer, and Developer covenants to purchase such tail coverage prior to the date of expiration or termination of the policy; (b) General Liability: $1,000,000 per occurrence/$2,000,000 aggregate of primary coverage; (c) Worker’s Compensation: Statutory limits; (d) Automobile Liability: $1,000,000 combined single limit per policy period; (e) Employer’s Liability: $500,000 each occurrence; (f) If Developer’s Work will involve subsurface investigation (such as soil samples, core drilling, test well, etc.), Developer shall maintain Contractor’s Pollution Liability Insurance, including bodily injury, property damage and cleanup costs, with limits of not less than $1,000,000 per occurrence and aggregate; and