Blanket or Master Policy Clause Samples
A Blanket or Master Policy clause establishes a single insurance policy that covers multiple individuals, entities, or properties under one contract. In practice, this type of clause is commonly used by organizations, such as employers or landlords, to provide uniform insurance coverage to a group, like employees or tenants, without issuing separate policies for each member. The core function of this clause is to streamline administration and ensure consistent coverage terms, reducing complexity and potential gaps in protection.
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Blanket or Master Policy. Any one or more of the types of insurance coverages required in Section 19.1 (except that the GL Policy for Project Improvements Work, GL Policy for Additional Work and Owner’s GL Policy shall have a general aggregate limit that shall be site specific to the Complex Site) may be obtained, kept and maintained through a blanket or master policy or excess/umbrella policies insuring other entities (such as Affiliates of Owner), provided that (a) such blanket or master policy or excess/umbrella policies and the coverage effected thereby comply with all applicable requirements of this Agreement and (b) the protection afforded under such blanket or master policy or excess/umbrella policies shall be no less than that which would have been afforded under a separate policy or policies relating only to the Complex Site. If any excess or umbrella liability insurance coverage required pursuant hereto is subject to an aggregate annual limit and is maintained through such blanket or master policy, and if such aggregate annual limit is impaired as a result of claims actually paid by more than fifty percent (50%), Owner shall immediately give Notice thereof to City and, within ninety (90) days after discovery of such impairment, to the fullest extent reasonably possible, cause such limit to be restored by purchasing additional coverage if higher excess limits have not been purchased.
Blanket or Master Policy. The insurance required to be carried by the Licensor pursuant to the provisions of this Article XVI may, at the Licensor’s option, be effected by blanket or umbrella policies issued to the Licensor covering the Arena and other properties owned or leased by the Licensor or Affiliates thereof, provided such policies otherwise comply with the provisions of this Agreement and provide to the Arena not less than the specified coverage, including, the specified coverage for all insureds required to be named as insureds under this Agreement.