Developer’s insurance definition

Developer’s insurance means insurance provided by Developer’s contractor. The Mayor and City Council of Baltimore, its elected/appointed officials, employees, and agents, shall be covered, by endorsement, as an additional insured on Developer’s insurance hereunder, with regard to liability arising out of work performed by or on behalf of the Developer in connection with this Agreement. The Developer’s insurance shall apply separately to each insured against whom claim is made and/or lawsuit is brought, except with respect to the limits of the insurer’s liability. The Developer’s insurance coverage shall be primary insurance as respects the City, its elected/appointed officials, departments, employees, and agents. Any insurance and/or self-insurance maintained by the City, its elected/appointed officials, departments, employees, or agents, shall not contribute with the Developer’s insurance or benefit the Developer in any way. Required insurance coverage shall not be suspended, voided, canceled, or reduced in coverage or in limits, except by the reduction of the applicable aggregate limit by claims paid, until after forty-five (45) days prior written notice has been given to the City. There will be an exception for non-payment of premium, which is ten (10) days notice of cancellation. Insurance is to be placed with insurers with a Best’s rating of no less than A:VII, or, if not rated with Best’s, with minimum surpluses the equivalent of Best’s surplus size VII and insurers must be licensed/approved to do business in the State of Maryland. The Developer shall furnish to the City a “Certificate of Insurance” with a copy of the additional insured endorsement as verification that coverage is in force. The City reserves the right to require complete copies of insurance policies at any time. Failure to obtain or maintain insurance coverage as required, or failure to furnish Certificates of Insurance as required, shall constitute a material breach of this Agreement and shall entitle the Department to terminate this Agreement immediately upon written notice to the Developer. Notwithstanding anything to the contrary in any applicable insurance policy, the Developer expressly warrants, attests and certifies that there are no carve outs or exclusions to the policy coverage and limitations stated herein, except as required by law.
Sample 1

Related to Developer’s insurance

  • Professional liability insurance means insurance against legal liability incident to the practice of a profession and provision of a professional service.

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • Liability Insurance means compulsory professional liability errors and omissions insurance required by a governing body;

  • Casualty insurance means liability insurance.

  • Property Insurance is defined in Section 6.10(a).

  • Insurance means comprehensive insurance of the vehicle(s)/equipment and shall include insurance of the crew.

  • Personal lines insurance means property and casualty insurance coverage sold for primarily noncommercial purposes to:

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.

  • First party insurance means an insurance policy or contract in which the insurer agrees to pay a claim submitted to it by the insured for the insured's losses.

  • Excess Insurance means insurance purchased from an insurance company authorized or admitted in the State of New Jersey or deemed eligible by the Commissioner as a surplus lines insurer or from any other entity authorized to provide said coverage in this state pursuant to law, covering losses in excess of an amount set forth in insurance contracts on a specific occurrence, or per accident or annual aggregate basis.

  • Crew Insurances means insurances against crew risks which shall include but not be limited to death, sickness, repatriation, injury, shipwreck unemployment indemnity and loss of personal effects.

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Other Insurance means insurance available to any covered person that covers a loss to which this policy applies, other than either primary insurance or insurance specifically purchased by you to be excess of the insurance afforded by this policy.

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.

  • Surplus lines insurance means insurance in this State of risks located or to be performed in this State, permitted to be placed through a licensed broker with a nonadmitted insurer eligible to accept the insurance, other than reinsurance, wet marine and transportation insurance, insurance independently procured, and life and health insurance and annuities. Excess and stop‑loss insurance coverage upon group life, accident, and health insurance or upon a self‑insured’s life, accident, and health benefits program may be approved as surplus lines insurance.

  • 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.

  • D&O Policies has the meaning set forth in Section 8.06.

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.

  • Self-insurance means the licence holder's financial capacity to meet any liability to a third party in respect of which the licence holder does not otherwise have insurance.

  • Tail Policy has the meaning set forth in Section 6.18(b).