Right to Self-Insure. Upon written approval by the Executive Director, Developer may self-insure if the following conditions are met: 1. Developer has a formal self-insurance program in place prior to execution of this Agreement. If a corporation, Developer must have a formal resolution of its board of directors authorizing self-insurance. 2. Developer agrees to protect the City, its boards, officers, agents and employees at the same level as would be provided by full insurance with respect to types of coverage and minimum limits of liability required by this Agreement. 3. Developer agrees to defend the City, its boards, officers, agents and employees in any lawsuit that would otherwise be defended by an insurance carrier. 4. Developer agrees that any insurance carried by Department is excess of Developer’s self-insurance and will not contribute to it. 5. Developer provides the name and address of its claims administrator. 6. Developer submits its most recently filed 10-Q and its 10-K or audited annual financial statements for the three most recent fiscal years prior to Executive Director’s consideration of approval of self-insurance and annually thereafter. 7. Developer agrees to inform Department in writing immediately of any change in its status or policy which would materially affect the protection afforded Department by this self-insurance. 8. Developer has complied with all laws pertaining to self-insurance.
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Samples: Foreign Trade Zone Developer Agreement, Foreign Trade Zone Developer Agreement
Right to Self-Insure. Upon written approval by the Executive Director, Developer may self-insure if the following conditions are met:
1. Developer has a formal self-insurance program in place prior to execution of this Agreement. If a corporation, Developer must have a formal resolution of its board of directors authorizing self-insurance.
2. Developer agrees to protect the City, its boards, officers, agents and employees at the same level as would be provided by full insurance with respect to types of coverage and minimum limits of liability required by this Agreement.
3. Developer agrees to defend the City, its boards, officers, agents and employees in any lawsuit that would otherwise be defended by an insurance carrier.
4. Developer agrees that any insurance carried by Department is excess of Developer’s self-insurance and will not contribute to it.
5. Developer provides the name and address of its claims administrator.
6. 6 Developer submits its most recently filed 10-Q and its 10-K or audited annual financial statements for the three most recent fiscal years prior to Executive Director’s consideration of approval of self-insurance and annually thereafter.
7. Developer agrees to inform Department in writing immediately of any change in its status or policy which would materially affect the protection afforded Department by this self-insurance.
8. Developer has complied with all laws pertaining to self-insurance.
Appears in 1 contract
Right to Self-Insure. Upon written approval by the Executive Director, Developer may self-insure if the following conditions are met:
1. Developer has a formal self-insurance program in place prior to execution of this Agreement. If a corporation, Developer must have a formal resolution of its board of directors authorizing self-insurance.
2. Developer agrees to protect the City, its boards, officers, agents and employees at the same level as would be provided by full insurance with respect to types of coverage and minimum limits of liability required by this Agreement.
3. Developer agrees to defend the City, its boards, officers, agents and employees in any lawsuit that would otherwise be defended by an insurance carrier.
4. Developer agrees that any insurance carried by Department is excess of Developer’s self-insurance and will not contribute to it.
5. Developer provides the name and address of its claims administrator.
6. Developer submits its most recently filed 10-Q and its 10-K or audited annual financial statements for the three most recent fiscal years prior to Executive Director’s consideration of approval of self-insurance and annually thereafter.
7. Developer agrees to inform Department in writing immediately of any change in its status or policy which would materially affect the protection afforded Department by this self-insurance.
8. Developer has complied with all laws pertaining to self-insurance.
Appears in 1 contract
Right to Self-Insure. Upon written approval by the Executive Director, Developer may self-insure if the following conditions are met:
1. Developer has a formal self-insurance program in place prior to execution of this Agreement. If a corporation, Developer must have a formal resolution of its board of directors authorizing self-insurance.
2. Developer agrees to protect the City, its boards, officers, agents and employees at the same level as would be provided by full insurance with respect to types of coverage and minimum limits of liability required by this Agreement.
3. Developer agrees to defend the City, its boards, officers, agents and employees in any lawsuit that would otherwise be defended by an insurance carrier.
4. Developer agrees that any insurance carried by Department is excess of Developer’s self-insurance and will not contribute to it.
5. Developer provides the name and address of its claims administrator.
6. Developer submits its most recently filed 10-Q and its 10-K or audited annual financial statements for the three most recent fiscal years prior to Executive Director’s 's consideration of approval of self-insurance and annually thereafter.
7. Developer agrees to inform Department in writing immediately of any change in its status or policy which would materially affect the protection afforded Department by this self-insurance.
8. Developer has complied with all laws pertaining to self-insurance.
Appears in 1 contract
