Construction Insurance definition

Construction Insurance means the insurance contemplated under GC 11.1 - INSURANCE of the Construction Contract.
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Construction Insurance means all insurance customarily maintained by prudent owners in connection with the construction of a facility similar to the Seller’s Plant, including course of construction insurance.
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Construction Insurance means the following insurance policies covering the Construction Facilities: (i) hazard or builder's risk insurance with an extended coverage endorsement acceptable to the Purchaser in an amount equal to the full replacement cost of the Construction Facilities, and (ii) comprehensive public liability insurance insuring against bodily injury and property damage, and which shall contain an endorsement in favor of Purchaser or name Purchaser as first loss payee, as the case may be, and shall require written notification to Purchaser not less than thirty (30) days before cancellation or expiration and shall not permit amendment or modification without Purchaser's prior written consent. The Construction Insurance may be consolidated in one insurance policy at Sellers' option. The builder's risk policy must be written on an all-risk basis and on a completed-value form (non-reporting basis) for the full replacement cost of the Improvements. Upon Purchaser's request, Sellers shall deliver to Purchaser a certificate of insurance addressed to Purchaser evidencing worker's compensation and public liability insurance of the construction manager or general contractor, as the case may be, for the Construction Facilities.
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Examples of Construction Insurance in a sentence

  • Infrastructure Ontario may determine that certain construction insurance to be provided during the Works phase under the Project Agreement will be obtained under the Infrastructure Ontario Construction Insurance Program (“ IOCIP”).


More Definitions of Construction Insurance

Construction Insurance means the insurance coverage applicable to Design and Construction Work for the NWRRDS, procured and maintained as provided in Section 15 and Exhibit D.
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Related to Construction Insurance

  • ' Compensation Insurance With respect to all operations performed, the Party shall carry workers’ compensation insurance in accordance with the laws of the State of Vermont. Vermont will accept an out-of-state employer's workers’ compensation coverage while operating in Vermont provided that the insurance carrier is licensed to write insurance in Vermont and an amendatory endorsement is added to the policy adding Vermont for coverage purposes. Otherwise, the party shall secure a Vermont workers’ compensation policy, if necessary to comply with Vermont law.

  • Construction industry means the work activity designated in sector group 23 - construction of the North American classification system - United States Office of Management and Budget, 1997 edition.

  • Sum Insured means the sum as specified in the Schedule to this Policy against the name of Insured / each Insured Person, which sum represents the Company's maximum liability for any or all claims under this Policy during the Policy period for the respective benefit(s) against which the sum is mentioned in the Schedule to this Policy.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Construction Cost means and includes the cost of the entire construction of the Project, including all supervision, materials, supplies, labor, tools, equipment, transportation and/or other facilities furnished, used or consumed, without deduction on account of penalties, liquidated damages or other amounts withheld from payment to the contractor or contractors, but such cost shall not include the Consulting Engineer/Architect's fee, or other payments to the Consulting Engineer/Architect and shall not include cost of land or Rights-of-Way and Easement acquisition.