Insurance Standard definition

Insurance Standard means such insurance policies, coverage amounts, types of coverage, endorsements or deductibles, as applicable, that a Reasonable and Prudent Operator would reasonably be expected to obtain, keep, and maintain, or require to be obtained, kept, and maintained with respect to the Premises and the ownership, operation, and use thereof.

Insurance Standard means such insurance policies, coverage amounts, types of coverage, endorsements or deductibles, as applicable, that (i) in connection with any Construction Work, that a Reasonable and Prudent Developer or Reasonable and Prudent Operator, as applicable, would reasonably be expected to obtain, keep and maintain, or require to be obtained, kept and maintained with respect to the Leased Premises and such Construction Work and (ii) with respect to the operation and use of the Leased Premises, that a Reasonable and Prudent Operator would reasonably be expected to obtain, keep and maintain, or require to be obtained, kept and maintained with respect to the Leased Premises and the ownership, operation and use thereof.

Insurance Standard means such insurance policies, coverage amounts, types of coverage, endorsements or deductibles, as applicable, that a reasonable and prudent operator would reasonably be expected to obtain, keep and maintain, or require to be obtained, kept and maintained with respect to the Parking Facility and the ownership, operation and use thereof.

Examples of Insurance Standard in a sentence

• The Contract Documents include the Notice to Bidders, Instruction to Bidders, General Conditions, Supplemental Specifications, Special Provisions, Proposal, Agreement, Proof of Insurance, Standard Details, Drawings, Addenda and Modifications are a part of this Contract the same as if each had been fully set out and attached hereto.

• The Authority and StadCo shall jointly review applicable coverages every three (3) years, and shall mutually agree upon appropriate coverages, limits and deductibles, and all such coverages, limits, and deductibles shall be at commercially reasonable levels and meet the Insurance Standard.

• Detail whether there is a limit on the number of claims per annum: Comment: Note: Refer also to the City’s sample insurance certificate form available on the City's web site at www.surrey.ca (search "Insurance Certificates") titled City of Surrey Certificate of Insurance Standard Form.

• Comprehensive Liability Insurance: Standard Com- prehensive General Liability Insurance Covering premises operation, contractual liability, products, and completed operations is required.

• In the event that StadCo asserts that the premium cost for one or more levels of coverage has become commercially unreasonable or otherwise not commercially available as contemplated in the preceding sentence, then StadCo shall have the burden of proof with respect to the fact that such coverage is commercially unreasonable, and that the coverages, limits and deductibles that StadCo proposes to maintain meet the Insurance Standard.

• The Contract Documents include the Notice to Bidders, Instruction to Bidders, General Conditions, Supplemental Specifications, Special Provisions, Proposal, Agreement, Proof of Insurance, Standard Details, Drawings, Addenda, Question & Answers and Modifications are a part of this Contract the same as if each had been fully set out and attached hereto.

• Are you able to provide Contractor's Equipment Insurance covering at least the actual cash value of owned or leased construction machinery and equipment used in the performance of the Work and shall include a waiver of rights of subrogation against the Owner and the Consultant? Yes  NoNote: Refer also to the City’s sample insurance certificate form available on the City's web site at www.surrey.ca (search "Insurance Certificates") titled City of Surrey Certificate of Insurance Standard Form.

• Drafting Note: States that have already implemented a licensing and registration law or regulation consistent with the NCOIL Limited Lines Travel Insurance Model Act and NAIC Uniform Licensing Standard 34 (Limited Lines Travel Insurance Standard) may choose to cross-reference that law or regulation instead of using the language set forth in this Section.

• The GL Policy for Project Improvements Work of Tenant’s other contractors and subcontractors shall be in such amount and such policy limits as meets the Insurance Standard for such contractors and subcontractors.

• In the event that StadCo asserts that the premium cost for one or more levels of coverage has become commercially unreasonable or otherwise not commercially available as contemplated in the preceding sentence, then StadCo shall have the burden of proof with respect to the fact that such coverage is commercially unreasonable, and that the coverages, limits, and deductibles that StadCo proposes to maintain meet the Insurance Standard.

More Definitions of Insurance Standard

Insurance Standard means such insurance policies, coverage amounts, types of coverage, endorsements or deductibles, as applicable, that (i) in connection with any Construction Work, that a Reasonable and Prudent Developer or Reasonable and Prudent Operator, as applicable, would reasonably be expected to obtain, keep and maintain, or require to be obtained, kept and maintained with respect to the Complex Site and such Construction Work and (ii) with respect to the operation and use of the Complex Site, that a Reasonable and Prudent Operator would reasonably be expected to obtain, keep and maintain, or require to be obtained, kept and maintained with respect to the Complex Site and the ownership, operation and use thereof.

Insurance Standard means the insurance policies, coverage amounts, types of coverage, endorsement and deductible as applicable, that a reasonable and prudent operator would reasonably be expected to obtain, keep and maintain or would require to be obtained, kept and maintained, with respect to the ownership and operation of the Plaza Buildings, Media Towers, or OEAS, as applicable.

Insurance Standard means the Insurance Standard approved by the Society on 21 June 2021;