Common use of Coverage Provided Clause in Contracts

Coverage Provided. Construction Manager is providing Workers’ Compensation, General Liability and Excess Liability insurance coverage for both Construction Manager and Construction Manager’s enrolled Eligible Subcontractors of every tier at rates to be determined and included in the GMP Amendment. The Insurance Premium Rate for General Liability and Umbrella insurance coverage shall be 0.85% of the Contract Sum. The Insurance Premium Rate for Subcontractor Default Insurance shall be 1.25% of the subcontract value of any enrolled Subcontractor. Construction Manager is also providing other liability insurance coverage (“Other Insurance”). Notwithstanding the requirements of Subsection B. 5 below, the Owner shall be named as an “Additional Named Insured” for coverage furnished through Construction Manager’s insurance carriers. The Insurance premium rates established in the Agreement or the GMP Amendment shall be fixed for the duration of the Project. Unless the parties have expressly agreed in the GMP Amendment to reimbursement of insurance premium costs on the basis of “agreed rates” (as opposed to reimbursement of actual premiums incurred and paid), any such premium rates shall be subject to audit to verify actual insurance premiums incurred and paid. Construction Manager shall invoice Owner for the Insurance Premium costs as such costs are incurred. Construction Manager’s insurance coverage shall provide no less than the following coverages (with limits no less than stated below).

Coverage Provided. Construction Manager is providing Workers’ Compensation, General Liability and Excess Liability insurance coverage for both Construction Manager and Construction Manager’s enrolled Eligible Subcontractors of every tier at rates to be determined and included in the GMP Amendment. The Insurance Premium Rate for In no event shall General Liability and Umbrella insurance coverage shall be 0.85exceed % of the Contract SumCost of Work. The Insurance Premium Rate for In no event shall Subcontractor Default Insurance shall be 1.25% of the subcontract value Cost of Work of any enrolled Subcontractor. Construction Manager is also providing other liability insurance coverage (“Other Insurance”). Notwithstanding the requirements of Subsection B. 5 below, the Owner shall be named as an “Additional Named Insured” for coverage furnished through Construction Manager’s insurance carriers. The Insurance premium rates established in the Agreement or the GMP Amendment shall be fixed for the duration of the Project. Unless the parties have expressly agreed in the GMP Amendment to reimbursement of insurance premium costs on the basis of “agreed rates” (as opposed to reimbursement of actual premiums incurred and paid), any such premium rates shall be subject to audit to verify actual insurance premiums incurred and paid. Construction Manager shall invoice Owner for the Insurance Premium costs as such costs are incurred. Construction Manager’s insurance coverage shall provide no less than the following coverages (with limits no less than stated below).