Common use of Blanket Contractual Liability Clause in Contracts

Blanket Contractual Liability. The County shall be named as an “additional insured” on the General Commercial Liability policy. Insurance coverages shall be evidenced by one of the following methods: * Certificate of Insurance; * Self-insurance through an irrevocable Letter of Credit from a qualified financial institution. Certificates of coverage as required by this section shall be delivered to the County within fifteen (15) days of execution of this Agreement. Any deductibles or self-insured retention shall be declared to and approved by the County. At the option of the County after consultation with OlyCAP, the insurer shall reduce or eliminate deductibles or self-insured retention, or OlyCAP may be required to procure a bond guaranteeing payment of losses and related investigations, claim administration and defense expenses. OlyCAP shall include all subcontractors as insured under its insurance policies or shall furnish separate certificates and endorsements for each subcontractor. All insurance provisions for subcontractors shall be subject to all of the requirements stated herein. Failure of OlyCAP to take out and/or maintain any required insurance shall not relieve OlyCAP from any liability under the Agreement, nor shall the insurance requirements be construed to conflict with or otherwise limit the obligations concerning indemnification. It is agreed by the parties that insurers shall have no right of recovery or subrogation against the County (including its employees and other agents and agencies), it being the intention of the parties that the insurance policies so affected shall protect both parties and be primary coverage for any and all losses covered by the above described insurance. It is further agreed by the parties that insurance companies issuing the policy or policies shall have no recourse against the County (including its employees and other agents and agencies) for payment of any premiums or for assessments under any form of policy. It is further agreed by the parties that any and all deductibles in the above described insurance policies shall be assumed by and be at the sole risk of OlyCAP. It is agreed by the parties that judgments for which the County may be liable, in excess of insured amounts provided herein, or any portion thereof, may be withheld from payment due, or to become due, to OlyCAP until such time as OlyCAP shall furnish additional security covering such judgment as may be determined by the County. Any coverage for third party liability claims provided to the County by a “Risk Pool” created pursuant to Ch. 48.62 RCW shall be non-contributory with respect to any policy of insurance OlyCAP must provide in order to comply with this Agreement. If the proof of insurance or certificate indicating the County is an “additional insured” to a policy obtained by OlyCAP refers to an endorsement (by number or name) but does not provide the full text of that endorsement, then it shall be the obligation of OlyCAP to obtain the full text of that endorsement and forward that full text to the County. The County may, upon OlyCAP’s failure to comply with all provisions of this Agreement relating to insurance, withhold payment or compensation that would otherwise be due to OlyCAP.