Minimum Insurance Amounts Sample Clauses
The Minimum Insurance Amounts clause sets the required baseline levels of insurance coverage that a party must maintain under a contract. Typically, it specifies the types of insurance—such as general liability, professional liability, or workers’ compensation—and the minimum dollar amounts for each policy. By establishing these thresholds, the clause ensures that adequate financial protection is in place to cover potential losses or liabilities, thereby reducing risk and providing assurance to all parties involved.
Minimum Insurance Amounts. The Contractor shall procure and maintain, during the entire period of performance under this contract, the following minimum insurance coverage: Comprehensive General Liability: $500,000 per occurrence Automobile Liability: $200,000 per person, $500,000 per occurrence, $20,000 per occurrence for property damage Workmen's Compensation: As required by Federal and state worker's compensation and occupational disease statutes Employer's Liability coverage: $100,000, except in states where worker's compensation may not be written by private carriers Other as required by state law
Minimum Insurance Amounts. A. General Liability ($1,000,000 limit per occurrence with an annual general aggregate limit of $2,000,000), with the following: • Premises Medical Expense ($5,000) • Personal and Advertising Injury coverage ($1,000,000) • Fire Damage/Damage to Rented Premises ($100,000) B. Commercial Umbrella ($2,000,000) C. Personal Umbrella ($2,000,000) D. Workers’ Compensation (statutory limits) E. Employers’ Liability ($250,000) F. Commercial/Business Auto Liability ($500,000 combined single limit per occurrence) G. Personal Auto Liability ($250,000 per person / $500,000 per accident / $100,000 property damage)
Minimum Insurance Amounts. SANMINA-SCI agrees to maintain during the term of this Agreement (a) workers’ compensation insurance as prescribed by the law of the state in which SANMINA-SCI’s services are performed; (b) employer’s liability insurance with limits of at least [***] per occurrence; (c) comprehensive automobile liability insurance if the use of motor vehicles is required, with limits of at least [***] for bodily injury and property damage for each occurrence; (d) comprehensive general liability insurance, including blanket contractual liability and broad form property damage, with limits of at least [***] combined single limit for personal injury and property damage for each occurrence; and (e) comprehensive general liability insurance endorsed to include products liability and completed operations coverage in the amount of [***] for each occurrence. SANMINA-SCI shall furnish to McDATA certificates or evidence of the foregoing insurance indicating the amount and nature of such coverage and the expiration date of each policy. Each party agrees that it, its insurer(s) and anyone claiming by, through, under or in its behalf shall have no claim, right of action or right of subrogation against the other party and the other party’s affiliates, directors, officers, employees and customers based on any loss or liability insured against under the insurance required by this Agreement.