Required Insurance Clause Samples
The Required Insurance clause mandates that one or both parties to a contract must obtain and maintain specific types and amounts of insurance coverage throughout the duration of the agreement. Typically, this clause outlines the minimum coverage limits, the types of insurance needed—such as general liability, workers’ compensation, or professional liability—and may require proof of insurance in the form of certificates. Its core function is to allocate risk and ensure that adequate financial protection is in place to cover potential losses or liabilities arising from the contractual relationship.
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Required Insurance. The HSP will put into effect and maintain, with insurers having a secure A.M. Best rating of B+ or greater, or the equivalent, all necessary and appropriate insurance that a prudent person in the business of the HSP would maintain, including, but not limited to, the following at its own expense: Commercial General Liability Insurance, for third party bodily injury, personal injury and property damage to an inclusive limit of not less than 2 million dollars per occurrence and not less than 2 million dollars products and completed operations aggregate. The policy will include the following clauses:
a. The Indemnified Parties as additional insureds;
b. Contractual Liability;
c. Cross-Liability;
Required Insurance. The HSP will put into effect and maintain, with insurers having a secure A.M. Best rating of B+ or greater, or the equivalent, all the necessary and appropriate insurance that a prudent person in the business of the HSP would maintain including, but not limited to, the following at its own expense.
Required Insurance. Contractor, at its expense, shall maintain in full force and effect the insurance coverages set forth in Exhibit C – Insurance Requirements. All costs for insurance, including any payments of deductible amounts, shall be considered incidental to and included in the prices for Services and no additional payment shall be made to Contractor.
Required Insurance. During the Term of this Master Contract, Contractor, at its expense, shall maintain in full force and effect the insurance coverages set forth in Exhibit C – Insurance Requirements.
Required Insurance. The Hospital will put into effect and maintain, for the term of this Agreement, at its own expense, with insurers having a secure A.M. Best rating of B+ or greater, or the equivalent, all the necessary and appropriate insurance that a prudent person in the business of the Hospital would maintain including the following:
Required Insurance. Consultant must procure and maintain, during the period of performance of Required Services under this Agreement, and for twelve months after completion of Required Services, the policies of insurance described on the attached Exhibit B, incorporated into the Agreement by this reference (the “Required Insurance”). The Required Insurance shall also comply with all other terms of this Section.
Required Insurance. The HSP will put into effect and maintain, with insurers having a secure A.M. Best rating of B+ or greater, or the equivalent, all necessary and appropriate insurance that a prudent person in the business of the HSP would maintain, including, but not limited to, the following at its own expense:
(1) Commercial General Liability Insurance, for third party bodily injury, personal injury and property damage to an inclusive limit of not less than 2 million dollars per occurrence and not less than 2 million dollars products and completed operations aggregate. The policy will include the following clauses:
a. The Indemnified Parties as additional insureds;
b. Contractual Liability;
c. Cross-Liability;
d. Products and Completed Operations Liability;
e. Employers Liability and Voluntary Compensation unless the HSP complies with the Section below entitled “Proof of WSIA Coverage”;
f. Tenants Legal Liability; (for premises/building leases only);
g. Non-Owned automobile coverage with blanket contractual coverage for hired automobiles; and
h. A 30-Day written notice of cancellation, termination or material change.
Required Insurance. Contractor shall be required to procure, at its sole cost and expense, all insurance required by this Contract. In addition, Contractors shall be required to procure, at their sole cost and expense, and shall maintain in force at all times during the term of any Contract resulting from this solicitation, policies of insurance required by this Contract. All insurance shall be written by companies licensed or authorized by the New York State Department of Financial Services to issue insurance in the State of New York and which have an A.M. Best Company rating of “A-” Class “VII” or better. If, during the term of a policy, a carrier’s rating falls below “A-” Class “VII”, the insurance must be replaced no later than the renewal date of the policy with an insurer licensed or authorized by the New York State Department of Financial Services to issue insurance in the State of New York and which is rated at least “A-” Class “VII” or better in the most recently published Best’s Insurance Report. Vendor and Contractors shall deliver to OGS evidence of such policies in a form acceptable to OGS. Policies must be written in accordance with the requirements of the paragraphs below, as applicable. Acceptance and/or approval by OGS does not, and shall not be construed to, relieve Vendor or Contractors of any obligations, responsibilities or liabilities under this solicitation or any Contract resulting from this solicitation.
Required Insurance. For the duration of the Lease, each Resident is required to maintain and provide the following minimum required insurance coverage: Each Resident is required to furnish Landlord with evidence of Minimum Required Insurance prior to the first day of the month of the commencement date of their lease and prior to the first day of the month of any renewal period. In the event that evidence of Minimum Required Insurance is not so provided, the Resident will be charged under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). Charges for LRRL will not be credited or removed for the current month if evidence of Minimum Required Insurance is provided after the first of the current month. If at any time Resident does not have Minimum Required Insurance, Resident is in breach of the Lease and Landlord shall have, in addition to any other rights under the Lease, the right but not the obligation to purchase Minimum Required Insurance coverage and seek reimbursement from the Resident for all costs and expenses associated with such purchase. Resident may obtain renter’s insurance, personal liability insurance, legal liability insurance or any other insurance product provided that it meets the Minimum Required Insurance provision of the Lease. Resident may obtain such insurance from an insurance agent or insurance company of Resident’s choice. If Resident furnishes evidence of such insurance and maintains such insurance for the duration of the Lease, then nothing more is required. If Resident does not maintain Minimum Required Insurance, the Minimum Required Insurance provision of the Lease may be satisfied by Landlord, who may schedule the Resident or their unit for coverage under the Landlord’s Required Resident Liability Insurance Policy (“LRRL”). The coverage provided under the LRRL will provide the Minimum Required Insurance coverage listed above. An amount equal to the total cost for LRRL coverage shall be charged to Resident by the Landlord. Some important points of this coverage, which Resident should understand are:
A. LRRL is designed to fulfill the Minimum Required Insurance provision of the Lease. The Landlord’s Agent is the Named Insured and Landlord is an Additional Insured under the LRRL. Resident is not the Named Insured under the LRRL policy. The Resident’s rights (if any) under the LRRL policy are limited.
B. LRRL coverage is not personal liability insurance or renter’s insurance. ▇▇▇▇▇▇▇▇ is not responsible for the Resident’s personal ...
Required Insurance. Contractor/Service Provider must procure and maintain, during the period of performance of Required Services under this Agreement, and for twelve months after completion of Required Services, the policies of insurance described on the attached Exhibit B, incorporated into the Agreement by this reference (the “Required Insurance”). The Required Insurance shall also comply with all other terms of this Section.