Supplier’s Insurance. Supplier shall provide and maintain during the Term of the Agreement, at its own expense, the following insurance coverage: general liability insurance shall have limits no less than ten million dollars ($10,000,000) and product liability insurance shall have limits no less than ten million dollars ($10,000,000) per incident and ten million dollars ($10,000,000) per annum in the aggregate.
(a) Supplier shall provide HQ with proof of valid insurance coverage for Supplier. A certificate of insurance issued by the insurer shall be acceptable to HQ as proof of coverage.
(b) All of the aforementioned certificates provided by the insurer to Supplier shall certify the following:
(i) that the required insurance policies are valid and the coverage specified in Section 16.1, is in effect;
(ii) that HQ has been added to the certificate as an additional named insured with respect to the general liability insurance referred to in Section 16.1;
(iii) a cross-liability clause is in existence;
(iv) the insurer shall provide notice of amendments or cancellation to HQ; and
(v) a waiver of subrogation in favour of HQ.
(c) Supplier shall provide HQ with at least fifteen (15) days advance written notice of any policy cancellation or any change in the amount of coverage or type of insurance stipulated with respect to Supplier. In no case shall Supplier materially alter, cancel or allow to lapse any stipulated insurance while HQ is receiving Products or Services pursuant to the terms and conditions of this Agreement.
(d) The foregoing insurance provisions shall not limit the amount or type of insurance otherwise required by law. It shall be the sole responsibility of Supplier to determine what additional insurance coverage, if any, is necessary and advisable for its own protection or to fulfill its obligations under this Agreement. Any such additional insurance shall be provided and maintained by Supplier, as applicable, at its own expense.
(e) Supplier warrants to HQ that it has not done or will not do anything which would cause the stipulated insurance policy or policies carried by Supplier to be suspended, impaired, cancelled or otherwise adversely affected.
(f) In the event of a proceeding, claim or demand brought or made against HQ, involving Supplier, HQ shall forthwith provide notice to Supplier and vice versa.
Supplier’s Insurance. If the Supplier is furnishing services on Purchaser’s Site, Supplier shall secure and maintain in force minimum policies of insurance of the types listed below and shall furnish to Purchaser, prior to providing any portion of the Work and throughout the duration of the Supplier’s performance of the Work, certificates of insurance evidencing current coverage listed below (collectively, the “Policies”).
1. Commercial General Liability (CGL) insurance including products-completed operations, independent contractors, and contractual liability coverages with minimum limits of $2,000,000 per occurrence, combined single limit for bodily injury (including disease or death), personal injury, and property damage (including loss of use) liability.
2. Automobile Liability insurance, including non-ownership and hired car endorsement, with minimum limits of $1,000,000 per occurrence, combined single limit.
3. Worker’s Compensation coverage in the statutory amounts under the worker’s compensation act(s) of the location(s) in which the Work is to be performed, for the current period.
4. Employer’s Liability with a minimum limit of $1,000,000 for each accident or illness.
5. If Supplier will have access to Purchaser’s Network/Systems or any of Purchaser’s customer data, Supplier is required to provide Cyber Liability Insurance with limits not less than $2,000,000 per occurrence. Any of the above per-occurrence limits may be satisfied by a combination of primary and excess liability coverage.
Supplier’s Insurance. During the Term of the Agreement, Supplier will maintain: (i) comprehensive or commercial general liability insurance (including premises and operations, broad form contractual liability, broad form property damage and personal injury liability) with a minimum limit of $1,000,000 combined single limit per occurrence and $2,000,000 in the aggregate, for claims of bodily injury, including death, and property damage that may arise from acts or omissions of Supplier in its performance under this Agreement; (ii) workers’ compensation insurance, with statutory limits as required by the various laws and regulations applicable to the employees of Corindus hereunder; and (iii) employer’s liability insurance, for employee bodily injuries and deaths, with a limit of $1,000,000 each accident. In addition, immediately prior to any use of a released or unreleased Product on humans (including any clinical trials or evaluations that may be performed before release), Supplier will have in force and maintain liability coverage for the Products for claims of bodily injury, including death, that may arise from use of the products and completed operations with a minimum limit of $1,000,000 combined single limit per occurrence and $2,000,000 in the aggregate. As soon as possible after the Effective Date but no later than two months after the effective date, Supplier will also establish and maintain excess liability insurance coverage in an amount of not less than $10 million per occurrence. As of the date the Products are released for shipment, each policy obtained by Supplier will name Distributor, its officers, directors and employees as additional insured. Such insurance will apply as primary insurance and no other insurance will be called upon to contribute to a loss covered thereunder. Such insurance policies will be written with appropriately licensed and financially responsible insurers, and will endeavor to provide for a minimum of 30 days written notice to Distributor of any cancellation or reduction in coverage. Certificates of insurance evidencing the required coverage and limits is in force and effect will be furnished to Distributor before any work is commenced hereunder.
Supplier’s Insurance. Section 11.1.1 Supplier shall procure at its own expense and maintain in full force and effect, with responsible insurance carriers reasonably acceptable to System Owner that have an A.M. Best rating of A- or better authorized to do business in the state in which the System is located, all insurance as specified in Section 11.1.2, in at least the minimum amounts specified; provided, that, if Supplier subcontracts the design and engineering portion of the Work, then such design or engineering professional (or firm) shall procure and maintain the professional liability (errors & omissions) insurance required below in lieu of Supplier providing such professional liability insurance. Liability insurance coverage shall be occurrence-based and shall be primary and not excess to or contributing with any insurance or self-insurance maintained by System Owner.
Section 11.1.2 The insurance to be maintained by Supplier is as follows:
(a) All-Risk Builder’s Risk, insuring Supplier, Subcontractors, System Owner, Host Customer and Lender(s) as their interests may appear, covering physical elements of the System and all related installation costs from the physical loss or damage caused by perils covered by a standard All-Risk form or equivalent coverage, to include (if available at reasonable commercial rates) flood, wind and earthquake. Such insurance shall also provide coverage for materials and equipment in transit to or from the Site and System coverage for System Start-Up and testing. The limit of liability shall be the full replacement cost of the System. Supplier’s All-Risk Builder’s Risk coverage shall continue, with respect to each System subsystem until the passage of care, custody and control of the System to System Owner.
(b) Workers’ compensation insurance covering Supplier’s and all Subcontractors’ employees as required by applicable Law and employer’s liability insurance with a limit of $1,000,000.
(c) Professional liability (errors & omissions) with a limit of $2,000,000 per occurrence. If this insurance is written on a “claims made” basis, then the policy shall provide “tail coverage” for claims asserted within three years after the earlier of the date of Final Completion or the date of termination of this Agreement.
(d) Automobile bodily injury and property damage liability insurance covering automobiles owned or hired by Supplier and all Subcontractors with a limit for bodily injury and property damage of $1,000,000 per occurrence.
Supplier’s Insurance. The Supplier must effect and maintain:
(a) professional indemnity insurance for an amount of not less than the amount set out in item 17 of Schedule 1 in respect of any single claim in any insurance year arising from a breach of professional duty by the Supplier whether owed in contract, tort or otherwise, or by reason of any act or omission by the Supplier;
(b) public liability insurance with a minimum cover of the amount set out in item 17 of Schedule 1 in respect of any single claim in any insurance year; and
(c) any other insurances set out in item 17 of Schedule 1.
Supplier’s Insurance. Professional indemnity insurance Limit of Liability (all Claims in the annual aggregate including Defence Costs) £2,000,000 Public liability insurance Limit of indemnity £5,000,000
Supplier’s Insurance. Supplier shall secure and maintain in force minimum policies of insurance of the types listed below and shall furnish to Purchaser, prior to providing any portion of the Work and throughout the duration of the Supplier’s performance of the Work, certificates of insurance evidencing current coverage listed below (collectively, the “Policies”).
1. Commercial General Liability (CGL) insurance including products-completed operations, independent contractors, and contractual liability coverages with minimum limits of $2,000,000 per occurrence, combined single limit for bodily injury (including disease or death), personal injury, and property damage (including loss of use) liability.
2. Automobile Liability insurance, including non-ownership and hired car endorsement, with minimum limits of $1,000,000 per occurrence, combined single limit.
3. Worker’s Compensation coverage in the statutory amounts under the worker’s compensation act(s) of the location(s) in which the Work is to be performed, for the current period.
4. Employer’s Liability with a minimum limit of $1,000,000 for each accident or illness.
5. Professional or Errors and Omissions insurance with minimum limits of $2,000,000 per occurrence.
6. If the Supplier will have access to the Purchaser’s Network/Systems or any of Purchaser’s customer data, Supplier is required to provide Cyber Liability Insurance with limits of not less than $2,000,000 per occurrence. Any of the above per-occurrence limits may be satisfied by a combination of primary and excess liability coverage.
Supplier’s Insurance. The Supplier must provide a certificate of General Liability. Theimplementation of this policy by the Supplier does not in any way release the Supplier from its legal or contractual obligations.
Supplier’s Insurance. The duration of each policy shall be from the Effective Date until termination of the Agreement. The Supplier hereby agrees to put in effect and maintain insurance for the Term, at its own cost and expense, with insurers having a secure A.M. Best rating of B + or greater, or the equivalent, all the necessary and appropriate insurance that a prudent person in the business of the Supplier would maintain including, but not limited to, the following comprehensive commercial general liability insurance on an occurrence basis for third party bodily injury, personal injury and property damage, to an inclusive limit of not less than [Insert amount] per occurrence, [Insert amount] aggregate. The policy shall include, but not be limited to, the following: the Purchaser as an additional insured with respect to liability arising in the course of performance of the Supplier’s obligations under, or otherwise in connection with, the Agreement; products and completed operations; contractual liability coverage; cross-liability clause; 30 Day written notice of cancellation, termination, or material change; and owned and non-owned automobile coverage with blanket contractual coverage for hired automobiles.
