INSURANCES TO BE EFFECTED AND MAINTAINED Clause Samples
The "Insurances to be Effected and Maintained" clause requires one or more parties to obtain and keep certain insurance policies active throughout the duration of a contract or project. Typically, this clause specifies the types of insurance needed—such as public liability, professional indemnity, or workers' compensation—and may set minimum coverage amounts or name additional insured parties. Its core function is to ensure that adequate financial protection is in place to cover potential risks or liabilities, thereby safeguarding all parties involved from unforeseen losses or claims.
INSURANCES TO BE EFFECTED AND MAINTAINED. 2.1 The insurance which must be effected and maintained in accordance with the provisions of the agreement to which these Insurance Requirements are attached should be in the name of the Owner and as follows:
INSURANCES TO BE EFFECTED AND MAINTAINED. The Insurance must be effected and maintained according to the provisions of the Loan Agreement, including this Schedule and the risks set forth in this as follows: