Common use of Additional Insurance Conditions Clause in Contracts

Additional Insurance Conditions. A. Vendor’s policy(ies) shall be primary insurance to any other valid and collectible insurance available to MMCAP Infuse with respect to any claim arising out of Vendor’s performance under this Agreement; B. If Vendor receives a cancellation notice from an insurance carrier affording coverage herein, Vendor agrees to notify MMCAP Infuse within five (5) business days with a copy of the cancellation notice, unless Vendor’s policy(ies) contain a provision that coverage afforded under the policy(ies) will not be cancelled without at least thirty (30) days advance written notice to MMCAP Infuse; C. Vendor is responsible for payment of Agreement related insurance premiums and deductibles; D. If Vendor is self-insured, a Certificate of Self-Insurance must be attached; E. Vendor’s policy(ies) shall include legal defense fees in addition to its liability policy limits; F. Vendor’s insurance companies must either (1) have an AM Best rating of A- (minus) and a Financial Size Category of VII or better, and be authorized to do business in the State of Minnesota or (2) be domiciled in the State of Minnesota and have a Certificate of Authority/Compliance from the Minnesota Department of Commerce if they are not rated by AM Best; and G. An Umbrella or Excess Liability insurance policy may be used to supplement the Vendor’s policy limits to satisfy the full policy limits required by the Agreement.