Common use of Minimum Insurance Coverage Clause in Contracts

Minimum Insurance Coverage. During the term of this Agreement, Ethico will maintain, at its own expense, the minimum amounts of insurance coverage as specified below: I. General Comprehensive Liability Insurance of in an amount of at least $1,000,000 for bodily injury (including death) and property damage. II. Commercial General Liability (“CGL”) and/or Umbrella Liability insurance written on ISO Occurrence form CG 00 01 12 07 or equivalent, written on an occurrence form, with a limit of not less than $2,000,000 per each occurrence. III. Professional Liability/Errors and Omissions coverage covering the liability for any financial loss due to negligent error or omission of Ethico or its employees and agents with a policy limit of $2,000,000 per event. IV. Cyber Liability including network security and privacy risks. Coverage will include unauthorized access, failure of security, wrongful disclosure, collection, or other negligence in the handling of Confidential Information, privacy perils, data breach expenses, and consumer notification expenses, in an amount not less than $5,000,000. V. Workers Compensation and Employers Liability Insurance meeting minimum statutory requirements. VI. Commercial Umbrella and/or Employers Liability Limits of no less than $1,000,000 each accident for bodily injury and $1,000,000 each employee for bodily injury by disease. VII. Automobile Liability and/or Umbrella Liability insurance with limits of not less than $1,000,000 each accident.