Coverage Requirements. Property Limits to cover replacement for PSA's property exposures, including real and personal, owned or leased COVERAGE REQUIREMENTS Performance Bond (or Letter of Credit with Indemnification) $1,000,000 per claim/aggregate Insurance carrier(s) must have an AM Best Rating of “A - VII” or better. The College’s insurance carrier periodically reviews the types and amounts of insurance coverages that the Academy must secure in order for the College to maintain insurance coverage for the authorization and oversight of the Academy. In the event that the College’s insurance carrier requests additional changes in coverage identified in this Section 11.2, or M.U.S.I.C requires changes in coverage and amounts for public school academies authorized by university board public school academy authorizing bodies, the Academy agrees to comply with any additional changes in the types and amounts of coverage requested by the College’s insurance carrier or adopted by M.U.S.I.C. within thirty (30) days after notice of the insurance coverage change.
Appears in 5 contracts
Samples: Fiscal Agent Agreement, Oversight Agreement, Contract Terms and Conditions
