Insurance & Related Obligations of Licensee Sample Clauses

Insurance & Related Obligations of Licensee. (a) The following insurance requirements shall apply to Licensee, its contractors, consultants and agents: Licensee, as well as any contractors, consultants or agents Licensee hires in conjunction with the Event who will have access to Villanova Facilities must provide a Certificate of Insurance to Villanova at least one week prior to the Event. Please note the Certificate(s) must include Villanova University as an “additional insured” under the Commercial General Liability and Automobile Liability policies which must provide the minimum limits set forth below and written by a company acceptable to Villanova. The Certificate(s) should also indicate whether the General Liability policy is written on a “claims made” or “occurrence” basis. If the insurance is cancelled or materially changed for any reason, Licensee must notify Villanova immediately, and Villanova reserves the right to terminate this Agreement in that event. Insurance requirements are: Workers’ Compensation: Statutory amount Commercial General Liability: $1 million each occurrence; $2 million aggregate (including physical/sexual abuse/molestation and harassment coverage if any of Licensee’s Participants are Minors (under age 18), other than Minors accompanied by a family member age 18 or over) Automobile Liability (if applicable): $1 million each occurrence Property coverage for owned or leased equipment The Commercial General Liability policy must cover Licensee’s liability for claims that arise from activities sponsored by Licensee but conducted on premises not owned by Licensee. In addition, the Commercial General Liability policy must provide coverage for claims of physical/sexual abuse/molestation and harassment, with no exclusion or sub limits on such coverage, if any of Licensee’s Participants are Minors (under age 18) (other than Minors accompanied by a family member age 18 or over). (b) Licensee agrees that the insurance shall be primary coverage, and the insurers waive subrogation rights against Villanova for any injuries or damages.