Required Policy Terms. All required insurance policies will remain in full force and effect at all times until completion of the Services or earlier cancellation of this Agreement, and will:
Required Policy Terms. All required insurance policies will remain in full force and effect at all times until completion of the Services and all extensions and renewals of the Services or earlier cancellation of this Agreement (except professional liability and technology error & omissions and cyber liability policies which will remain in full force and effect at all times during the foregoing period plus two years), and will: be obtained from and issued by insurers authorized to carry on business within British Columbia, on terms satisfactory to the City, acting reasonably; be primary insurance in respect to liability arising out of the operation of the Vendor, and any insurance or self-insurance maintained by the City will be in excess of this insurance and will not contribute to such policies; and contain a provision that such insurance coverage will not be cancelled or endorsed to reduce the limits of liability without the Vendor giving the City at least 30 days’ written notice by registered mail. Should the policy be endorsed to restrict coverage midterm, written notice of such restriction will be sent by registered mail to the City no later than the effective date change; the exception is cancellation for non-payment of premium in which case the applicable statutory conditions will apply. Insurance Certificate. Prior to signing this Agreement, the Vendor shall have provided, or shall provide, the City’s Project Manager with evidence of all required insurance to be taken out in the form of one or more certificate(s) of insurance in form. The certificate(s) of Insurance will identify the Agreement title, Agreement number, policy holder, description of work, insurer name, insurer policy number, insurer policy period and insurer limits. Proof of insurance, in the form of such certificate(s) of insurance (or copies of the policy(ies) themselves, if requested), will be made available to the City’s Project Manager at any time during the performance of the Services immediately upon request.
Required Policy Terms. All required insurance policies will remain in full force and effect at all times during the Term and for a period of not less than 2 years following the completion of the Services and will,
Required Policy Terms. All policies must have a standard clause requiring that the insurer notify Lender or its assigns at least thirty (30) days in advance for any policy reduction, modification or cancellation. Nationwide Life Insurance Company, its successors and/or assigns must be named as mortgagee, loss payee and additional insured in the event of loss under a standard mortgagee clause. Policy terms shall be not less than one year, and the expiration date of the policy is at least two (2) months beyond the loan closing date. Blanket Polices. Blanket policies are acceptable if the policy or a certificate issued by the insurer specifically identifies the Mortgaged Property and assigns a coverage amount at least equal to the amounts required above. If the blanket amount is the only limit of coverage, the language “per any one occurrence” needs to be included on the certificate. Nationwide Life Insurance Company, its successors and/or assigns must be named as mortgagee and loss payee under a standard mortgagee clause for property and rent loss coverage and additional insured for liability coverage.
