Split Limits Liability Sample Clauses

Split Limits Liability. The minimum limits of liability insurance coverage maintained by the contractor, as required by 14 Code of Federal Regulations (CFR) 205, shall be as follows: H-1.3.1. Liability for bodily injury to or death of aircraft passengers: A limit for any one passenger of at least three hundred thousand dollars ($300,000.00), and a limit for each occurrence in any one aircraft of at least an amount equal to the sum produced by multiplying three hundred thousand dollars ($300,000.00) by the number of passengers to be carried on the aircraft. H-1.3.2. Liability for bodily injury to or death of persons (excluding passengers): A limit of at least three hundred thousand dollars ($300,000.00) for any one person in any one occurrence, and a limit of at least twenty million dollars ($20,000,000.00) for each occurrence. H-1.3.3. Liability for loss of or damage to property: A limit of at least twenty million dollars ($20,000,000.00) for each occurrence. H-1.3.4. The liability coverage shall not be contingent upon the financial condition, solvency, or freedom from bankruptcy of the carrier. The limits of the liability for the amounts required by this part shall apply separately to each occurrence. Any payment made under the policy or plan because of any one occurrence shall not reduce the coverage for payment of other damages resulting from any other occurrence.