BASE INSURANCE Sample Clauses

The Base Insurance clause establishes the minimum insurance coverage requirements that a party must maintain under a contract. Typically, it specifies the types of insurance—such as general liability, property, or workers’ compensation—and the minimum coverage limits that must be in place throughout the contract term. This clause ensures that both parties are protected against potential losses or liabilities arising from the performance of the contract, thereby allocating risk and providing financial security in case of unforeseen events.