Common use of Risk and Insurance Clause in Contracts

Risk and Insurance. The WEEELABEX Auditor will consider and assess all risks when entering a (candidate) WEEELABEX Operator’s site in connection with performing the audit. All equipment brought onto the (candidate) WEEELABEX Operator’s site shall be at the WEEELABEX Auditor’s own risk unless the WEEELABEX Auditor is able to demonstrate that such loss or damage was caused or contributed to by the negligence or default of the (candidate) WEEELABEX Operator. The WEEELABEX Auditor (or his company) shall effect and maintain with a reputable insurance company a policy or policies of insurance providing an adequate level of cover in respect of all risks which may be incurred by the WEEELABEX Auditor, arising out of the audit process, including death or personal injury, loss of or damage to property or any other loss. Such policies shall include cover in respect of any financial loss arising from any advice given or omitted to be given by the WEEELABEX Auditor. Such insurance shall be maintained for a minimum of two years following the expiration or earlier termination of the listing of the WEEELABEX Auditor. The WEEELABEX Auditor (or his company) shall hold employer’s liability insurance in respect of Staff in accordance with any legal requirement for the time being in force. The WEEELABEX Auditor (or his company) shall produce to the WEEELABEX Office and/or (candidate) WEEELABEX Operator, on request, copies of all insurance policies referred to in this clause or a broker’s verification of insurance to demonstrate that the appropriate cover is in place, together with receipts or other evidence of payment of the latest premiums due under those policies. The terms of any insurance or the amount of cover shall not relieve the WEEELABEX Auditor (or his company) of any liabilities under this Agreement.