Common use of Insurance Conditions Clause in Contracts

Insurance Conditions. (A) The insurance coverages set forth in Section 23.1 will be primary, and all coverage will be non-contributing with respect to any other insurance or self-insurance which may be maintained by HPI. All coverage required by Section 23.1 will include a waiver of subrogation and a waiver of any insured-versus-insured exclusion regarding HPI. To the extent any coverage is written on a claims-made basis, it will have a retroactive date at or prior to the Effective Date and will allow for reporting of claims for at least three years following the expiration or termination of this Agreement. (B) HPES will provide to HPI, within 10 business days after the Effective Date and at HPI’s request thereafter, certificates of insurance evidencing that the coverages required under this Agreement are in effect and maintained in force during the Term (and, with respect to claims-made policies, for at least five years after the expiration or termination of this Agreement). Upon HPI’s request, HPES will permit HPI to examine the originals of the policies that relate to the insurance described in this Section. The third party insurers selected by HPES will have an A.M. Best rating of A-, X or better, or, if such ratings are no longer available, with a comparable rating from a recognized insurance rating agency. With respect to such third party insurers, HPI will have the right to require HPES to obtain the insurance required under this Article from another insurance carrier in the event HPI determines that HPES’ then-current insurance carrier does not have an A.M. Best rating of A-, X or better or is not licensed or authorized to conduct business in all states in which HPI does business. HPES will require that HPES Agents, if any, maintain insurance coverages as specified in reasonable amounts naming HPES as an additional insured or loss payee where relevant or HPES will ensure that HPES Agents, if any, are endorsed as additional insureds on such HPES coverages. HPES will be, at its sole cost and expense, responsible for any loss or damage resulting from any HPES Agents and HPES’ insurance is deemed to be primary for any such losses (C) In the case of loss or damage or other event that requires notice or other action under the terms of any insurance coverage specified in Section 23.1, HPES will be solely responsible to take such action. HPES will provide HPI with contemporaneous notice and with such other information as HPI may request regarding the event. (D) The provisions of this Article will in no way limit the liability of HPES. The obligations under this Article are mandatory; failure of HPI to request certificates of insurance or insurance policies will not constitute a waiver of HPES’ obligations and requirements to maintain the minimal coverages specified. HPES will maintain in its files evidence of all HPES Agents’ insurance coverage.