Common use of Supplier’s Insurance Clause in Contracts

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. 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 10 million dollars ($10,000,000) per annum in the aggregate. (a) Supplier shall provide HQ CBS with proof of valid insurance coverage for Supplier. A certificate of insurance issued by the insurer shall be acceptable to HQ CBS 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 this Section 16.114.1, is in effect; (ii) that HQ CBS has been added to the certificate as an additional named insured with respect to the general liability insurance referred to in this Section 16.114.1; (iii) a cross-liability clause is in existence; (iv) the insurer shall provide notice of amendments or cancellation to HQCBS; and (v) a waiver of subrogation in favour of HQCBS. (c) Supplier shall provide HQ CBS 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 CBS 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 CBS 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 HQCBS, involving Supplier, HQ CBS shall forthwith provide notice to Supplier and vice versa.

Supplier’s Insurance. 13.1.1 Supplier shall provide and will maintain during the Term of the Agreement, at its own expense, the following insurance coverage: comprehensive or commercial general liability insurance shall have limits no less than ten million dollars ($10,000,000including premises and operations, products and completed operations, broad form contractual liability, broad form property damage and personal injury liability) with a minimum limit of [Redacted – Commercially Sensitive – Insurance Details] combined single limit per occurrence 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 [Redacted – Commercially Sensitive – Insurance Details] in the aggregate. (a) , for claims of bodily injury, including death, and property damage that may arise from use of Products. Supplier shall also maintain professional liability insuring the acts or omissions of Supplier under this Agreement in an amount of [Redacted – Commercially Sensitive – Insurance Details] per occurrence and aggregate. Supplier will also maintain excess liability in an amount of not less than €10 million per occurrence. The commercial general liability policy obtained by Supplier will name Buyer, 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 there under. In addition, such policies will permit Supplier to waive, on its own behalf and on behalf of its insurers, any rights of subrogation against Buyer. Such insurance policies will be written with appropriately licensed and financially responsible insurers, and will provide HQ with proof for a minimum of valid insurance coverage for Supplier30 days written notice to Buyer of any cancellation or reduction in coverage. A certificate Certificates 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 evidencing the required insurance coverage and limits will be furnished to Buyer before any work is commenced hereunder, and Supplier will deliver copies of policies are valid and the coverage specified in Section 16.1, is in effect; (ii) that HQ has been added or certificates to the certificate Buyer contact designated by Buyer. - Page 17 of 27 - Philips & Profound 13.1.2 If any policies have “claims made” coverage, Supplier will maintain such coverage with Buyer named as an additional named insured with respect to the general liability insurance referred to in Section 16.1; (iii) for a cross-liability clause is in existence; (iv) the insurer shall provide notice minimum of amendments or cancellation to HQ; and (v) a waiver [Redacted – Commercially Sensitive – Insurance Details] after termination 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 coverage must have a retroactive date no later than the date upon which work commenced under this Agreement. 13.1.3 All deductibles on policies providing coverage will be provided and maintained paid by Supplier. If Supplier is self-insured for matters described above, as applicable, at its own expense. (e) Supplier warrants agrees to HQ that it has not done respond to any claims 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 losses made against HQor incurred by Buyer in the same fashion as if insurance had been purchased with the same or broader coverage terms than what is generally available to similar Suppliers. In no event will the coverage or limits of any insurance required under this clause, involving or the lack or unavailability of any other insurance, be deemed to limit or diminish Supplier, HQ shall forthwith provide notice ’s obligations or liability to Supplier and vice versaBuyer under this Agreement.