Construction Insurance definition

Construction Insurance means the insurance contemplated under GC 11.1 - INSURANCE of the Construction Contract.

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.

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.

Examples of Construction Insurance in a sentence

• Contractor shall keep insurance in force during warranty and guarantee periods, except that Contractor may discontinue All-Risk Course of Construction Insurance after Final Payment.

• Loss Payee Status – Builder’s Risk/Course of Construction Insurance (applicable to Construction Contracts only) Contractor or Consultant may submit evidence of Builder’s Risk insurance in the form of Course of Construction coverage.

• All-Risk Course of Construction Insurance including damage to property owned by District, Contractor or third parties caused by fire.

• Builder’s Risk (Course of Construction): Insurance utilizing an “All Risk” (Special Perils) coverage form, with limits equal to the completed value of the project and no coinsurance penalty provisions.

• 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”).

• Contractor/Consultant Signature Builder’s Risk (Course of Construction): Insurance utilizing an “All Risk” (Special Perils) coverage form, with limits equal to the completed value of the project and no coinsurance penalty provisions.

• All-Risk Course of Construction Insurance including damage to property owned by Owner, Contractor or third parties caused by fire.

• Builder’s Risk (Course of Construction) Insurance Contractor may submit evidence of Builder’s Risk insurance in the form of Course of Construction coverage.

• Contractor must keep insurance in force during warranty and guarantee periods, except that Contractor may discontinue All-Risk Course of Construction Insurance (Builder’s Risk) after Final Payment.

• 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”), as set out in the RFP Data Sheet.

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.