Common use of Right to Review Policies Clause in Contracts

Right to Review Policies. Owner reserves the right to review the insurance required hereunder and to make reasonable adjustments to the insurance coverages and their limits when deemed necessary and prudent by the Owner based upon changes in statutory law, court decisions, or the claims history of the industry, as well as the Contractor. (a) The Owner shall be entitled, upon request, and without expense, to receive copies of the Contractor’s relevant insurance policies and all endorsements thereto and may make any reasonable requests for deletion, or revision or modification of particular policy terms, conditions, limitations, or exclusions, except where policy provisions are established by law or regulation binding upon either of the Parties or the underwriter of any of such policies. Actual losses not covered by insurance as required by this Article shall be paid by the Contractor. (b) The Contractor shall not knowingly, except by agreement or instruction of the Owner in writing, commence Work or related operations on the Worksite or elsewhere prior to the date Contractor has fulfilled the insurance requirements of this Agreement. The date of commencement of the Work shall not be changed by the effective date when such insurance is furnished.