Owner’s Required Insurance Sample Clauses
Owner’s Required Insurance. Owner, at Owner’s sole cost and expense, shall carry and maintain the following insurance with companies authorized to do business in the applicable jurisdictions and possessing a minimum A.M. Best rating of A-VIII:
(a) Commercial General Liability insurance with minimum limits of $5,000,000 per occurrence, $10,000,000 aggregate, covering bodily injury liability, personal injury liability and property damage liability, and including contractual liability, products and completed operations coverage;
(b) Statutory Worker’s Compensation insurance;
(c) Employer’s Liability insurance with a minimum limit of $5,000,000 each accident; and
(d) Automobile Liability insurance with a minimum limit of $5,000,000 each accident;
(e) Umbrella policy, with a minimum limit of $5,000,000, scheduling General Liability, Automobile Liability and Employers Liability coverages; and
(f) so called “All Risk” physical damage insurance, including flood and earthquake, covering loss or damage to the Terminal, including with respect to any trade fixtures, machinery, equipment, and other personal property located in or about the Terminal in an amount not less than one hundred percent (100%) of the full replacement cost thereof from time to time.
Owner’s Required Insurance. Owner shall purchase and maintain Builder's All Risk Insurance or All Risk Property Insurance covering the Work, the equipment and materials intended to go into the Work, and the Premises. Contractor and Contractor's sub-contractors shall be named as additional named insureds, as their interests may appear, under such policies with waiver of subrogation. Such insurance shall provide "all-risk" coverage including, but not be limited to, coverage for fire, flood, explosion, windstorm, and named windstorm. Losses excluded by such insurance, or in excess of purchased limits or sub-limits, and deductibles under such insurance shall be costs of Owner. Contractor shall reimburse Owner for Owner's insurance deductible amount up to [DOLLAR AMOUNT] to the extent that a loss covered by such insurance was caused by Contractor's or Contractor's subcontractors' fault.
Owner’s Required Insurance. Owner shall purchase and maintain, or shall cause the General Contractor to purchase and maintain, at all times during the performance of the Work until Final Completion the following types and amounts of insurance:
(a) Builder’s Risk. Builder’s Risk insurance upon the entire Work at the Site and those materials and equipment which are not stored at the Site to the full insurable value thereof. Such insurance (i) shall include the interests of Owner, Manager, the General Contractor, and any of the General Contractor’s subcontractors and sub-subcontractors in the Work, (ii) shall include “All Risk” insurance for physical loss or damage including, without duplication of coverage, collapse, theft, vandalism, malicious mischief, flood, earthquake, marine cargo, and materials in transit, and (iii) shall have limits of liability not less than the Target Project Cost.