Insurance & Bonding definition

Insurance & Bonding. The Sub recipient shall carry sufficient insurance coverage to protect contract assets from loss due to theft, fraud and/or undue physical damage. The Sub recipient shall comply with the bonding and insurance requirements for non-profits and educational institutions and governmental entities as specified in 2 CFR 200. Additional loss payee coverage shall only cover materials and equipment purchased with City-Parish funds under this grant agreement The Sub recipient shall carry and maintain all insurance required by law or statute, and such other insurance deemed necessary or appropriate for their operations under this contract. It is specifically understood and agreed that the Sub recipient, at its sole cost and expense, shall carry and maintain at all times during the performance of this contract, the following types of insurance: Workers' Compensation and Employers’ Liability insurance covering all employees engaged in services hereunder in compliance with the laws of the State of Louisiana. If Contractor is either the bona fide president, vice president, secretary, or treasurer of a corporation who owns not less than ten percent of the stock therein, or a partner with respect to a partnership in which he is employed, or a sole proprietor with respect to such sole proprietorship he may elect not to be covered by Workers’ Compensation as in accordance with Title 23, Section 1035 of the Louisiana State Workers’ Compensation statute as may concern any claims or injuries relating to the City of Baton Rouge and/or the Parish of East Baton Rouge. In such case a Waiver of Workers’ Compensation must be signed and attached to this contract. Commercial General Liability coverage shall be provided with limits of not less than $1,000,000 for any one Occurrence and if a General Aggregate limit is used, it shall not be less than twice the Occurrence limit. Coverages are to include Premises-Operations, Personal Injury, Products/Completed Operations and Contractual Liability. Automobile Liability coverage shall be provided with limits of not less than $1,000,000 for any one occurrence. Coverages are to include all Owned, Hired and Non-Owned Automobiles. The City-Parish shall be named as Additional Insured on all Liability policies. Such insurance coverage shall be written by good and solvent companies authorized by law to carry on business in the State of Louisiana, but in no event, shall such insurance companies having a rating of less than “A-”, class IV, in the curre...
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Insurance & Bonding. [For Xxxxxxx’s subject to 2 CFR part 200, subpart D, insert: “The Subrecipient shall comply with the bonding and insurance requirements of 24 CFR §200.325 and §200.310”. State’s may wish to insert requirements that the Subrecipient carry sufficient insurance coverage to protect CDBG-acquired assets from loss due to theft, fraud and/or undue physical damage, and acquire a blanket fidelity bond covering all employees in an amount equal to CDBG-DR funds provid
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Examples of Insurance & Bonding in a sentence

  • Insurance & Bonding Requirements The contractor shall provide the City with any and all supporting documentation evidencing bonding in the amount of $10,000.00.

  • Provide a letter from the Construction Manager/General Contractor’s insurance company stating the Contractor can meet the insurance requirements in Section IX, Insurance & Bonding Requirements.

  • Each Bond was produced on behalf of RLI by Big Marco Insurance & Bonding Services, LLC (“Big Marco”).

  • Indemnification, Insurance & Bonding InsuranceAll contractors shall provide insurance coverage in adequate quantity to protect against legal liability arising out of contractual activities.

  • Representing the Gross Overhead and Profit, General Conditions, Insurance & Bonding, and associated non-permitting-related fees for the construction phase services provided by CP, the Owner shall pay to CP a Construction Fee.

  • Insurance & Bonding The Sub recipient shall carry sufficient insurance coverage to protect contract assets from loss due to theft, fraud and/or undue physical damage, and as a minimum shall purchase a blanket fidelity bond covering all employees in an amount equal to cash advances from the Grantee.

  • The parties shall procure the insurance coverages set forth in Attachment E, Indemnity, Insurance & Bonding, in accordance with the General Conditions.

  • Insurance & Bonding Section 17.01 Insurance Coverage.‌(a) Statutory and General CoverageMCO will maintain, at the MCO’s expense, the following insurance coverage naming the State of Texas, acting through HHSC, as an additional insured and loss payee.

  • Insurance & Bonding Contractor shall carry, and shall cause its subcontractors and sub-subcontractors to carry, the insurance coverage set forth in Attachment A - Insurance Requirements attached heretoto the Introductory Statement to these Supplementary Conditions.

  • The provision of resolution by circulation shall not be exercisable in the next year if the General Council meeting for previous year is not held.

Related to Insurance & Bonding

  • Blanket insurance policy means a group policy covering a defined class of

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.

  • insurance agent means, subject to subsection (2), any person who for any compensation and through any medium does one or more of the following:

  • Reimbursement insurance policy means a policy of insurance

  • Insurance Company The Transferee is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a state, U.S. territory or the District of Columbia.

  • Insurance Report means an insurance report in respect of the Insurances confirming that such Insurances are placed with such insurers, insurance companies and/or clubs in such amounts, against such risks and in such form as acceptable to the Agent (acting on the instructions from the Finance Parties) and comply with the requirements under Clause 26.3 (Insurance) and the GIEK Guarantee prepared by Bank Assure Insurance Services Inc., or such other reputable insurance advisor approved by the Agent, and dated on or about 11 June 2010 and addressed to, and capable of being relied upon by, the Finance Parties.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • policy of life insurance means any instrument by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, or any instrument evidencing a contract which is subject to payment of premiums for a term dependent on human life;

  • Insurance adjuster means a person who directs or conducts the investigation, negotiation, or settlement of a claim under an insurance policy other than life insurance or an annuity, on behalf of an insurer, policyholder, or a claimant under an insurance policy.

  • Credit property insurance means insurance:

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.