Insurance Sample Clauses Insurance. The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers While boilerplate clauses can be useful when drafting contracts, standard form insurance clauses often will not adequately address the intention of the contract and the parties. Insurance clauses should be drafted clearly and precisely, be contract-specific and tailored specifically to the intention of the parties. Insurance is only one way that the contractor can fulfill its financial responsibilities to your Entity. There should also always be a section in the contract that states that the lack of insurance does not The drafting of insurance clauses usually requires a contractors to “warrant” (or, in other words, guarantee) that it has satisfied all the requirements imposed by the construction contract. As such, these requirements cannot be taken lightly and may result in an inadvertent (and serious) breach of contract if they are not adhered to.
Jun 19, 2015 For little or no cost to you, this extends coverage to you and ensures you'll know if the provider's insurance is canceled. Include lien waiver clause. Dec 12, 2016 A limitation of liability provision, when included in an EPC contract is tie the liability limitation to the contractor's insurance coverage, then the Sep 3, 2018 If residential property owners don't confirm proper insurance coverage and carefully consider labor laws when hiring contractors, they could be in for. The property manager's contract has an indemnification clause in it, Apr 25, 2016 Discover which of your contractor insurance policies will protect you in the event of a construction defect claim.
Restoration Contractors to Act as Insurance Adjusters The majority of jurisdictions hold this clause to be unenforceable if the AOB occurs after the property loss Jul 19, 2017 Primary and noncontributory endorsements apply to insurance this contract clause provides the general contractor with coverage under the Nov 15, 2016 contractors, subcontractors and Permittees. The form, scope of coverage and insurance company with respect to all required insurance policies its interests. Subcontractors should not agree among themselves as to the form of contract terms and reporting of each such provision to the insurance carrier. or accessible to Licensor, its employees, agents or contractors, pertaining to Licensee's business or financial Insurance Clause for Cyber-liability Insurance.
Policies may also include a provision covering "contractual liability." This provision is valuable if a Contractor's professional liability insurance does not cover Contractors shall carry insurance under the following circumstances: (a). (1) The Government requires any contractor subject to Cost Accounting Standard (CAS) Insurance is necessary to cover any claims or losses for which the contractor or vendor may be responsible. All contractors and vendors must procure, pay for, granting provision in the Contract. ARTICLE 4. PROGRESS PAYMENTS: Based upon Applications for Payment submitted to the OR by the Contractor and.
(1) The clause at FAR 52.228-4, Worker's Compensation not to allow the contractor to buy insurance for war-hazard losses. Jun 19, 2015 For little or no cost to you, this extends coverage to you and ensures you'll know if the provider's insurance is canceled. Include lien waiver clause. Dec 12, 2016 A limitation of liability provision, when included in an EPC contract is tie the liability limitation to the contractor's insurance coverage, then the Sep 3, 2018 If residential property owners don't confirm proper insurance coverage and carefully consider labor laws when hiring contractors, they could be in for. The property manager's contract has an indemnification clause in it, Apr 25, 2016 Discover which of your contractor insurance policies will protect you in the event of a construction defect claim.