Common use of Protection & Indemnity Insurance Clause in Contracts

Protection & Indemnity Insurance. for owned or chartered watercraft used in the performance of this Contract, coverage shall include liability for bodily injury and property damage with a combined single limit of Five Million Dollars ($5,000,000.00) per occurrence or higher as may be required by any laws or regulations of any governmental agency or subdivision. Such insurance shall be endorsed to specifically include full crew coverage, unless provided under other insurance, coverage for diving operations, if applicable, liability for seepage, pollution, containment and clean-up, collision liability, contractual liability, and removal of wreck. Such insurance shall be endorsed to delete any “as owner” clause and any other language purporting to limit coverage to liability of an insured “as owner” of the vessel, blanket additional insured and waiver of subrogation, and cargo legal liability to the limit of the policy.

Protection & Indemnity Insurance. for owned or chartered watercraft used in the performance of this Contract, coverage shall include liability for bodily injury and property damage with a combined single limit of Five Million Dollars ($5,000,000.00) per occurrence or higher as may be required by any laws or regulations of any governmental agency or subdivision. Such insurance shall be endorsed to specifically include full crew coverage, unless provided under other insurance, coverage for diving operations, if applicable, liability for seepage, pollution, containment and clean-up, collision liability, contractual liability, and removal of wreck. Such insurance shall be endorsed to delete any “as owner” clause and any other language purporting to limit coverage to liability of an insured “as owner” of the vessel, blanket additional insured and waiver of subrogation, and cargo legal liability to the limit of the policy.