Common use of Property of Others Insurance Clause in Contracts

Property of Others Insurance. Design Build Entity and Subcontractors shall procure and maintain, during the entire time Stored Materials are in off-Site storage, insurance coverage as needed in excess of the coverage provided by the Judicial Council’s Builder’s Risk Insurance acceptable to Judicial Council that shall protect Design Build Entity and Judicial Council from all claims for Stored Materials that are lost, stolen, or damaged. Judicial Council shall be named as a loss payee for this insurance coverage. The insurance coverage shall include a “loss payable endorsement” stating that all amounts payable will be paid to either the Design Build Entity or the Judicial Council, dependent upon ownership of Stored Materials. This insurance shall provide all-risk coverage for all Stored Materials up to the full replacement value.

Property of Others Insurance. Design Build Entity and Subcontractors shall procure and maintain, during the entire time Stored Materials are in off-Site site storage, insurance coverage as needed in excess of the coverage provided by the Judicial Council’s Builder’s Risk Insurance acceptable to Judicial Council that shall protect Design Build Entity and Judicial Council from all claims for Stored Materials that are lost, stolen, or damaged. Judicial Council shall be named as a loss payee for this insurance coverage. The insurance coverage shall include a “loss payable endorsement” stating that all amounts payable will be paid to either the Design Build Entity or the Judicial Council, dependent upon ownership of Stored Materials. This insurance shall provide all-risk coverage for all Stored Materials up to the full replacement value.

Property of Others Insurance. Design Build Entity and Subcontractors shall procure and maintain, during the entire time Stored Materials are in off-Site storage, insurance coverage coverage, as needed needed, in excess of the coverage provided by the Judicial Council’s Builder’s Risk Insurance Insurance, acceptable to Judicial Council Council, that shall protect Design Build Entity and Judicial Council from all claims for Stored Materials that are lost, stolen, or damaged. Judicial Council shall be named as a loss payee for this insurance coverage. The insurance coverage shall include a “loss payable endorsement” stating that all amounts payable will be paid to either the Design Build Entity or the Judicial Council, dependent upon ownership of Stored Materials. This insurance shall provide all-risk coverage for all Stored Materials up to the full replacement value.