Common use of Minimum Limits Clause in Contracts

Minimum Limits. Subject to the restrictions found in the standard Workers Compensation Policy, there shall be no maximum limit on the amount of coverage for statutory liability imposed by the Florida Workers’ Compensation Act or any coverage customarily insured under Part One of the Standards Workers’ Compensation Policy. The minimum amount of coverage for those coverages customarily insured under Part Two – Employer’s Liability of the Standard Workers’ Compensation Policy (inclusive of any amounts provided by any umbrella or excess policy) shall be One Million Dollars ($1,000,000) per occurrence, and if subject to an annual aggregate, Two Million Dollars ($2,000,000) annual aggregate. If the School is governed by a municipality, then Sponsor’s Risk Management Department can elect to accept program deductibles/Self-Insured Retentions as long as the Sponsor receives prior written notice from the municipality that the municipality will be responsible for any loss payments within the deductible/Self-Insured Retentions. The municipality governing this school will be responsible for any outstanding deductibles/Self-Insured Retentions if the School is unable to meet its financial obligations. Otherwise, coverage is required to be first dollar with no deductible. In the event that the School leases employees, it shall provide certified proof that the corporation from which it leases service maintains appropriate Workers’ Compensation coverage. In addition, we will require a signed Workers Compensation affidavit by the School.

Minimum Limits. Subject to the restrictions found in the standard Workers Compensation Policy, there shall be no maximum limit on the amount of coverage for statutory liability imposed by the Florida Workers’ Compensation Act or any coverage customarily insured under Part One of the Standards Workers’ Compensation Policy. The minimum amount of coverage for those coverages customarily insured under Part Two – Employer’s Liability of the Standard Workers’ Compensation Policy (inclusive of any amounts provided by any umbrella or excess policy) shall be One Million Dollars ($1,000,000) per occurrence, and if subject to an annual aggregate, Two Million Dollars ($2,000,000) annual aggregate. If the School is governed by a municipality, then Sponsor’s Risk Management Department can elect to accept program deductibles/Self-Insured Retentions (SIR’s) as long as the Sponsor receives prior written notice from the municipality that the municipality will be responsible for any loss payments within the deductible/Self-Insured RetentionsSIR. The municipality governing this school will be responsible for any outstanding deductibles/Self-Insured Retentions SIR if the School is unable to meet its financial obligations. Otherwise, coverage is required to be first dollar with no deductible. In the event that the School leases employees, it shall provide certified proof that the corporation from which it leases service maintains appropriate Workers’ Compensation coverage. In addition, we the Sponsor will require a signed Workers Compensation affidavit by the School.