Common use of Risk of Loss; Insurance Clause in Contracts

Risk of Loss; Insurance. ‌ a) The Purchasing Entity shall not be liable to Contractor for any risk of Deliverable loss or damage while Deliverable is in transit, or while in the Purchasing Entity’s possession, except when such loss or damage is due directly to the Purchasing Entity’s negligence or intentional misconduct. Nothing in this section is intended nor shall it be construed, in any manner, as waiving or compromising the sovereign immunity of any state. b) Throughout the Term, Contractor shall maintain, at Contractor’s sole cost and expense, a policy or policies of commercial general liability insurance, including contractual liability coverage, in an amount not less than $1,000,000.00 for all damages arising out of bodily injuries to, or death of, all persons and injuries to or destruction of property, in any one accident or occurrence, and, subject to that limit per accident, a total (or aggregate) limit of $2,000,000.00 per occurrence for all damages arising out of bodily injuries to, or death of, all persons and injuries to or destruction of property per policy period. Such insurance policy or policies shall name the Lead State as additional insured. The Contractor shall cause the Lead State to be named as an additional insured on the policy and shall provide (1) a certificate of insurance, (2) the declaration page and (3) the additional insured endorsement to the policy to DAS, all in an electronic format acceptable to the Lead State, prior to the Effective Date of the Contract. The Contractor shall not begin Performance until the delivery of these three documents to the Lead State. Contractor shall provide an annual electronic update of the three documents to the Lead State on or before each anniversary of the Effective Date during the Term. Contractor shall also name the Participating Entity, and if requested the Purchasing Entity, as additional insureds to its insurance policies. Contractor shall provide the Participating Entity a certificate of insurance evidencing the above coverage on an annual basis and shall not begin performance of the Services until such a certificate has been provided to such Participating Entity, and if requested, Purchasing Entity. c) During the Term, and for a period of three (3) years thereafter, the Contractor shall carry Professional Liability Insurance in the amount of $1,000,000 per Claim and Annual Aggregate. Contractor shall provide the Lead State a certificate of insurance evidencing such Professional Liability Insurance coverage upon written request on an annual basis and shall not begin Performance of the Services until such a certificate has been provided to the Lead State, or in connection with a Participating Addendum, the Participating Entity and if applicable, Purchasing Entity. d) All insurance with the exception of the professional liability insurance required under (c) above must be written on an occurrence basis as opposed to “claims made” basis.

Risk of Loss; Insurance. ‌ (a) The Purchasing Entity Prior to the completion of the Work, all Work at the Job Site or otherwise in Contractor's custody or possession shall not be liable to Contractor for any remain at the risk of Deliverable Contractor, and Contractor shall be responsible for all loss and damage to the Work and shall repair, correct or otherwise cure, at its own option and expense, all such loss and damage whether or not due to the fault of Contractor. On completion of the Work, including the delivery of all goods, title and risk of loss or damage while Deliverable is shall pass to Owner. (b) Contractor shall procure and maintain in transiteffect, and shall require each of its Subcontractors, if any, to procure and maintain in effect the following types of insurance coverages (plus any specialty coverage requested by Owner (e.g., aircraft, watercraft, explosives) for Contractor's goods and/or services) with the following limits (or while in the Purchasing Entity’s possession, except when such loss or damage is due directly to the Purchasing Entity’s negligence or intentional misconduct. Nothing in this section is intended nor shall it be construed, limits specified in any mannerPurchase Order, as waiving or compromising whichever is higher) from the sovereign immunity commencement of any state.a Contractor Work Contract until completion of the Work: b(i) Throughout the Term, Contractor shall maintain, at Contractor’s sole cost and expense, a policy or policies $3,000,000 per occurrence of commercial general liability insuranceinsurance (including umbrella coverage), including on a form at least as broad as Insurance Services Office ("ISO") commercial general liability "occurrence" form CG 00 01 0196 (available through a commercial insurance broker) or another "occurrence" form providing equivalent coverage and approved in writing by Owner; and such commercial general liability insurance and any necessary riders thereto shall provide at least the following coverages: (1) contractual liability coverage as applicable to any hold harmless agreements in this Contractor Work Contract; (2) completed operations coverage; (3) broad form property coverage for property in the care, custody, or control of the Contractor, except that Owner shall provide insurance to cover damage to or loss of Owner's property in an amount not less than $1,000,000.00 due course of transit; (4) coverage for all damages liability arising out of bodily injuries toprofessional services or out of explosion, collapse, underground operations, or death ofdamage to utilities and loss of use resulting therefrom, all persons with an "Aggregate Per Project" endorsement; and (5) products liability. (ii) Workers Compensation and injuries to occupational disease insurance securing compensation for the benefit of Contractor employees and the employees of each Subcontractor, if any, as required by Applicable Laws, including the laws of each State where the employment contracts of such employees were made. Such coverage need not be obtained if Contractor has an accepted program of self-insurance under Applicable Law or destruction of propertyparticipates in an applicable monopolistic state Workers Compensation fund. If applicable, in Contractor shall also carry Xxxxxxxxx and Harborworkers and/or Xxxxx Act coverages or similar coverage as may be required for any one accident personnel working on, over, or occurrence, and, subject to that limit per accident, a total around water; (or aggregateiii) limit of $2,000,000.00 1,000,000 per occurrence of employers liability insurance; (iv) $2,000,000 combined singled limit motor vehicle liability insurance issued on a form at least as broad as ISO Business Auto Coverage Form CA 00 01 07 97 or other form providing equivalent coverage, covering all owned, hired, borrowed and non-owned vehicles (Symbol 1) brought onto the real property of any Owner Company; and (v) When builder’s risk insurance is required under the Order, $3,000,000 of all-risk builder’s risk insurance (including flood and earthquake) covering all goods and services to be incorporated into the Work, including transit perils and testing coverage for at least ninety (90) days. Owner, Contractor and all damages arising out Subcontractors shall be named insureds under the policy, which shall be primary to and noncontributory with any other insurance carried by Owner. (c) All required policies of bodily injuries toinsurance shall contain a waiver of subrogation in favor of Owner's Indemnitees. The required commercial general liability, or death ofemployers liability, all persons and injuries to or destruction of property per policy period. Such motor vehicle liability insurance policy or policies shall name the Lead State as additional insured. The Contractor shall cause the Lead State to be named cover Owner as an additional insured with respect to Claims arising out of the Work of the named insured or on the policy real property of any Owner Company, and with respect to Claims by employees of Contractor or their personal representatives, heirs, and beneficiaries. Such coverage shall be primary to and noncontributory with any other insurance carried by Owner. (d) The required policies of insurance for commercial general liability, employers liability, motor vehicle liability, and builders risk shall not have deductibles or self-insured retentions which are greater than the lesser of (i) five percent (5%) of the coverage limit provided by the policy, or (ii) the deductibles or self-insured retentions in Contractor's general program of business insurance, unless approved in writing by Owner. All deductibles on insurance required to be obtained under this Contractor Work Contract shall be borne by Contractor at its sole expense, without reimbursement by Owner, and shall be treated as "insurance" for the purpose of the waiver in Section 23(h) below; (e) All required policies of insurance shall be maintained in a form and with responsible insurance carriers reasonably satisfactory to Owner who are qualified to do business in the jurisdiction(s) in which the work is performed, and who are rated by AM Best as A- or better with a size rating of VII or better. As soon as practicable upon execution of this Contractor Work Contract and before commencing any Work hereunder, Contractor shall provide Owner with certificates of insurance evidencing all required coverages, listing all named insureds and additional insureds, and confirming the required waiver of subrogation. The certificates shall state that the policies described therein will not be cancelled, terminated, or materially amended, and renewals will not be refused or aggregate limits potentially exhausted until at least thirty (130) days after written notice has been given to Owner. All certificates of insurance shall be sent to the attention of Owner’s Manager for Risk Management and Insurance, Cleveland-Cliffs Steel LLC, 0000 Xxxxxxx Xxxxxx, Mail Code 0-000, Xxxx Xxxxxxx, XX 00000. Thereafter, Contractor shall deposit with Owner certificates of renewal not less than thirty (30) days before the expiration dates of the expiring policies. Each policy of insurance shall not contain any exclusions for work performed by Subcontractors. (f) Contractor shall notify Owner and the applicable insurance carriers of any occurrence or event giving rise to a certificate Claim as required under the terms of the policies; and upon request by Owner in connection with such notice, Contractor shall provide, and shall cause each relevant Subcontractor, if any, to provide to Owner true and complete copies of the original policies of insurance, including all riders and endorsements thereto, and bearing notations or accompanied by other evidence satisfactory to Owner of the payment of premiums. (2g) the declaration page Contractor waives all rights and (3) the additional insured endorsement claims against Owner's Indemnitees and its contractors other than Contractor, for all damages, losses, fines, expenses, costs, and fees to the policy extent of its actual recovery of any insurance proceeds therefor. Contractor shall require similar waivers in favor of Owner and Contractor from its Subcontractors. (h) Failure of the Contractor to DAS, all provide such certificates evidencing the required insurance shall under no circumstances be deemed a waiver of this requirement. The obligation of Contractor to provide the required policies of insurance shall not limit in an electronic format acceptable to any way the Lead State, prior to the Effective Date of liability or obligation assumed by Contractor under the Contract. The Failure to maintain all required insurance coverage may result in termination of this Contractor shall not begin Performance until Work Contract and all other contracts between the delivery of these three documents to the Lead State. Contractor shall provide an annual electronic update of the three documents to the Lead State on or before each anniversary of the Effective Date during the Term. Contractor shall also name the Participating Entity, Owner Companies and if requested the Purchasing Entity, as additional insureds to its insurance policies. Contractor shall provide the Participating Entity a certificate of insurance evidencing the above coverage on an annual basis and shall not begin performance of the Services until such a certificate has been provided to such Participating Entity, and if requested, Purchasing EntityContractor. c) During the Term, and for a period of three (3) years thereafter, the Contractor shall carry Professional Liability Insurance in the amount of $1,000,000 per Claim and Annual Aggregate. Contractor shall provide the Lead State a certificate of insurance evidencing such Professional Liability Insurance coverage upon written request on an annual basis and shall not begin Performance of the Services until such a certificate has been provided to the Lead State, or in connection with a Participating Addendum, the Participating Entity and if applicable, Purchasing Entity. d) All insurance with the exception of the professional liability insurance required under (c) above must be written on an occurrence basis as opposed to “claims made” basis.

Risk of Loss; Insurance. ‌ a) The Purchasing Entity shall not be liable to Contractor for any risk of Deliverable loss or damage while Deliverable is in transit, or while in the Purchasing Entity’s possession, except when such loss or damage is due directly to the Purchasing Entity’s negligence or intentional misconduct. Nothing in this section is intended nor shall it be construed, in any manner, as waiving or compromising the sovereign immunity of any stateState. b) Throughout the Term, Contractor shall maintain, at Contractor’s sole cost and expense, a policy or policies of commercial general liability insurance, including contractual liability coverage, in an amount not less than $1,000,000.00 for all damages arising out of bodily injuries to, or death of, all persons and injuries to or destruction of property, in any one accident or occurrence, and, subject to that limit per accident, a total (or aggregate) limit of $2,000,000.00 per occurrence for all damages arising out of bodily injuries to, or death of, all persons and injuries to or destruction of property per policy period. Such insurance policy or policies shall name the Lead State as additional insured. The Contractor shall cause the Lead State to be named as an additional insured on the policy and shall provide (1) a certificate of insurance, (2) the declaration page and (3) the additional insured endorsement to the policy to DAS, all in an electronic format acceptable to the Lead StateDAS, prior to the Effective Date of the Contract. The Contractor shall not begin Performance until the delivery of these three documents to the Lead StateDAS. Contractor shall provide an annual electronic update of the three documents to the Lead State DAS on or before each anniversary of the Effective Date during the Term. Contractor shall also name the Participating Entity, and if requested the Purchasing Entity, as additional insureds to its insurance policies. Contractor shall provide the Participating Entity a certificate of insurance evidencing the above coverage on an annual basis and shall not begin performance of the Services until such a certificate has been provided to such Participating Entity, and if requested, Purchasing Entity. c) During the Term, and for a period of three (3) years thereafter, the Contractor shall carry Professional Liability Insurance in the amount of $1,000,000 per Claim and Annual Aggregate. Contractor shall provide the Lead State a certificate of insurance evidencing such Professional Liability Insurance coverage upon written request on an annual basis and shall not begin Performance of the Services until such a certificate has been provided to the Lead State, or in connection with a Participating Addendum, the Participating Entity and if applicable, Purchasing Entity. d) All insurance with the exception of the professional liability insurance required under (c) above must be written on an occurrence basis as opposed to “claims made” basis.