PSI INSURANCE Sample Clauses

PSI INSURANCE. Prior to commencing the Work, PSI shall provide evidence of insurance to the Owner showing its insurance coverage, and PSI shall maintain such insurance in full force and effect at all times until the Work has been completed, in the following minimum amounts: COVERAGES LIMITS OF LIABILITY Commercial General Liability > General Aggregate $ 2,000,000 > Product & Completed Operations Aggregate $ 2,000,000 > Personal & Advertising Injury $ 1,000,000 > Each Occurrence $ 1,000,000 > Automobile Liability- Each Occurrence $ 1,000,000 > Employer’s Liability $500,000/$500,000/$500,000 > Umbrella Policy in addition to individual coverage $ 10,000,000 Also: Worker’s compensation as required by law and Professional Liability Insurance with a limit of not less than $2,000,000. The Owner and its consultants shall be additional insureds on the Contractor’s primary and excess insurance policies for Commercial General Liability and Automobile Liability. The additional insured coverage shall be primary and non-contributory as to any of the Owner’s insurance policies. The additional insured coverage shall apply to both ongoing operations and completed operations. The policy limits applicable to the additional insureds shall be the same amount applicable to the named insured or policy limits not more than the amounts required under this Contract. The insurance carriers shall have no right of subrogation against Owner and its consultants and their respective officers, directors, consultants, agents, and employees, and Contractor shall obtain from each of its subcontractors a waiver of subrogation on all insurance coverages required, including Commercial General Liability, Workers Compensation, Employers Liability and Automobile Liability, in favor of the parties identified herein with respect to losses arising out of or in connection with the Work on the Project. PSI’s insurance shall further comply with the terms and conditions of the Insurance Requirements Exhibit attached hereto. PSI shall also purchase and maintain Builder’s Risk insurance. The Builder’s Risk insurance shall be maintained until Substantial Completion, unless otherwise agreed in writing by the parties to this Agreement. This Builder’s Risk insurance shall include the interests of Owner, PSI, and PSI’s subcontractors and sub-subcontractors in the Project as insureds. the amount of the deductible for the Builder’s Risk that the Owner shall be responsible for in the aggregate is $5,000.
Sample 1
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PSI INSURANCE. Prior to commencing the Work, PSI shall provide a certificate of insurance to the Owner showing its insurance coverage, and PSI shall maintain such insurance in full force and effect at all times until the Work has been completed, in the following minimum amounts: COVERAGES LIMITS OF LIABILITY > General Aggregate $2,000,000 > Product & Completed Operations Aggregate $2,000,000 > Personal & Advertising Injury $1,000,000 > Each Occurrence $1,000,000 > Workers Compensation $500,000/$500,000/$500,000 > Umbrella Policy in addition to individual coverage $10,000,000. PSI shall add Owner, its Board of Education and members, as and “Additional Insured” to each policy that is referenced above. All insurers shall be licensed by the State of Illinois and rated A+-VII or better by A.M. Best or comparable rating service or bean authorized Risk Retention Group acceptable to Owner. PSI shall submit to Owner certificates of insurance satisfactory of insurance coverage upon request. PSI must provide sixty (60) days prior written notice of any material change, cancellation, or nonrenewal to the Superintendent of Owner. PSI's failure to carry or document required insurance shall constitute a breach of this Agreement and any failure by Owner to demand or receive proof of insurance coverage shall not constitute a waiver of PSI's obligation to obtain the required insurance. Owner shall not require commencement of Work and Owner will not pay PSI for any work if satisfactory proof of insurance is not provided before the commencement of the Work. Owner reserves the right to obtain copies of insurance policies and insurance records by written request at any time from PSI. PSI shall require any subcontractors under this Agreement to maintain comparable insurance which shall name PSI and Owner, its Board of Education and members, as Additional Insureds. PSI will maintain a file of subcontractor’s insurance certificates evidencing compliance with these requirements.
Sample 1
PSI INSURANCE. PSI will maintain, at all times during the Term and for a period of three (3) years after the expiration or termination of the Agreement, insurance coverage in commercially reasonable types and amounts given the PSI’s business and its respective risks. Company-specific insurance requirements can be found in Exhibit B-1, Exhibit B- 2, or Exhibit B-3, as applicable to the Agreement. 7.2
Sample 1

Related to PSI INSURANCE

  • Umbrella Insurance During the term of this Contract, Supplier will maintain umbrella coverage over Employer’s Liability, Commercial General Liability, and Commercial Automobile. Minimum Limits: $2,000,000

  • Group Insurance 38.01 The Group Insurance Plan presently in effect shall remain in effect during the term of this Agreement.

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • FDIC Insurance For any deposit accounts you open, the FDIC requires Bank to disclose, and you hereby acknowledge, that deposits held by Evolve Bank & Trust are insured up to $250,000 federal deposit insurance limit, per depositor for each ownership category.

  • Crime Insurance Contractor shall maintain during the term of the Contract Crime Insurance on a “loss sustained form” or “loss discovered form,” and coverage must include the following:  The policy must allow for reporting of circumstances or incidents that might give rise to future claims.  The policy must include an extended reporting period of no less than one (1) year with respect to events which occurred but were not reported during the term of the policy.  Any warranties required by the Contractor’s insurer as a result of this Contract must be disclosed and complied with. Said insurance shall extend coverage to include the principals (all directors, officers, agents and employees) of the Contractor as a result of this Contract.  The policy shall include coverage for third party fidelity and name “The People of the State of New York, the New York State Office of General Services, any entity authorized by law or regulation to use this Contract as an Authorized User and their officers, agents, and employees” as “Loss Payees” for all third party coverage secured. This requirement applies to both primary and excess liability policies, as applicable.  The policy shall not contain a condition requiring an arrest and conviction.  The policy shall include coverage for computer crime/fraud.

  • TOOL INSURANCE 255. The City agrees to indemnify employees covered under this Agreement for the loss or destruction of the employee's tools and/or tool storage units subject to the following conditions:

  • Trauma Insurance All employees will be covered by an Incolink administered lump sum insurance policy providing financial compensation in the event of a major work related (ie. WorkCover) accident resulting in death or permanent total disablement. The full and precise conditions of this cover will be in accordance with the terms of the policy, but in general will provide that, in the event of a workplace accident occurring which results in either the death or total permanent disablement of a worker covered by this Agreement, a lump sum payment as specified below will made. The defined payments are: With dependants $250,000 Without dependants $150,000 This benefit has been agreed to by the company on the grounds that premium costs have been set at $7 per week/worker and will not exceed that amount. In the event of insurance costs rising, it is agreed that the table of defined benefits will be reduced so as to maintain the $7 premium figure. To maintain this cover the company agrees to pay the amounts every week for each employee.

  • Travel Insurance The Employer shall provide and pay the full cost for travel insurance to cover all members of the bargaining unit for all modes of travel, in the amount of $200,000.00. The travel insurance policy shall also cover employees while on union business.

  • Commercial Umbrella Liability Insurance The Contractor shall provide a Commercial Umbrella Liability Insurance to provide excess coverage above the Commercial General Liability, Commercial Business Automobile Liability and the Workers' Compensation and Employers' Liability to satisfy the minimum limits set forth herein. The umbrella coverage shall follow form with the Umbrella limits required as follows: For Contract Amounts Less For Contract Amounts Equal to or Than $5,000,000.00: Greater than $5,000,000: $ 2,000,000 per Occurrence $2,000,000 per Occurrence $ 4,000,000 Aggregate $10,000,000 Aggregate Additional Requirements for Commercial Umbrella Liability Insurance are shown below at Paragraph 1.5.3.3.6.

  • Indemnity Insurance a. The Service Provider agrees to indemnify and save harmless the City, its officers, agents and employees against and from any and all actions, suits, claims, demands or liability of any character whatsoever brought or asserted for injuries to or death of any person or persons, or damages to property arising out of, result from or occurring in connection with the performance of any service hereunder.

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