Insurance & Bonding definition

Insurance & Bonding. [For Xxxxxxx’s subject to 2 CFR part 200, subpart D, insert: “The Subrecipient shall comply with the bonding and insurance requirements of 24 CFR §200.325 and §200.310”. State’s may wish to insert requirements that the Subrecipient carry sufficient insurance coverage to protect CDBG-acquired assets from loss due to theft, fraud and/or undue physical damage, and acquire a blanket fidelity bond covering all employees in an amount equal to CDBG-DR funds provid
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Insurance & Bonding. The Sub recipient shall carry sufficient insurance coverage to protect contract assets from loss due to theft, fraud and/or undue physical damage. The Sub recipient shall comply with the bonding and insurance requirements for non-profits and educational institutions and governmental entities as specified in 2 CFR 200. Additional loss payee coverage shall only cover materials and equipment purchased with City-Parish funds under this grant agreement The Sub recipient shall carry and maintain all insurance required by law or statute, and such other insurance deemed necessary or appropriate for their operations under this contract. It is specifically understood and agreed that the Sub recipient, at its sole cost and expense, shall carry and maintain at all times during the performance of this contract, the following types of insurance: Workers' Compensation and Employers’ Liability insurance covering all employees engaged in services hereunder in compliance with the laws of the State of Louisiana. If Contractor is either the bona fide president, vice president, secretary, or treasurer of a corporation who owns not less than ten percent of the stock therein, or a partner with respect to a partnership in which he is employed, or a sole proprietor with respect to such sole proprietorship he may elect not to be covered by Workers’ Compensation as in accordance with Title 23, Section 1035 of the Louisiana State Workers’ Compensation statute as may concern any claims or injuries relating to the City of Baton Rouge and/or the Parish of East Baton Rouge. In such case a Waiver of Workers’ Compensation must be signed and attached to this contract. Commercial General Liability coverage shall be provided with limits of not less than $1,000,000 for any one Occurrence and if a General Aggregate limit is used, it shall not be less than twice the Occurrence limit. Coverages are to include Premises-Operations, Personal Injury, Products/Completed Operations and Contractual Liability. Automobile Liability coverage shall be provided with limits of not less than $1,000,000 for any one occurrence. Coverages are to include all Owned, Hired and Non-Owned Automobiles. The City-Parish shall be named as Additional Insured on all Liability policies. Such insurance coverage shall be written by good and solvent companies authorized by law to carry on business in the State of Louisiana, but in no event, shall such insurance companies having a rating of less than “A-”, class IV, in the curre...
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Examples of Insurance & Bonding in a sentence

  • Insurance & Bonding Requirements The contractor shall provide the City with any and all supporting documentation evidencing bonding in the amount of $10,000.00.

  • Provide a letter from the Construction Manager/General Contractor’s insurance company stating the Contractor can meet the insurance requirements in Section IX, Insurance & Bonding Requirements.

  • Each Bond was produced on behalf of RLI by Big Marco Insurance & Bonding Services, LLC (“Big Marco”).

  • Indemnification, Insurance & Bonding InsuranceAll contractors shall provide insurance coverage in adequate quantity to protect against legal liability arising out of contractual activities.

  • Representing the Gross Overhead and Profit, General Conditions, Insurance & Bonding, and associated non-permitting-related fees for the construction phase services provided by CP, the Owner shall pay to CP a Construction Fee.

  • Insurance & Bonding The Sub recipient shall carry sufficient insurance coverage to protect contract assets from loss due to theft, fraud and/or undue physical damage, and as a minimum shall purchase a blanket fidelity bond covering all employees in an amount equal to cash advances from the Grantee.

  • The parties shall procure the insurance coverages set forth in Attachment E, Indemnity, Insurance & Bonding, in accordance with the General Conditions.

  • Insurance & Bonding Section 17.01 Insurance Coverage.‌(a) Statutory and General CoverageMCO will maintain, at the MCO’s expense, the following insurance coverage naming the State of Texas, acting through HHSC, as an additional insured and loss payee.

  • Insurance & Bonding Contractor shall carry, and shall cause its subcontractors and sub-subcontractors to carry, the insurance coverage set forth in Attachment A - Insurance Requirements attached heretoto the Introductory Statement to these Supplementary Conditions.

  • The provision of resolution by circulation shall not be exercisable in the next year if the General Council meeting for previous year is not held.

Related to Insurance & Bonding

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

  • Blanket insurance policy means a group policy covering a defined class of

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

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

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

  • Title Insurance Company as defined in Section 5.1(l).

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • insurance agent means, subject to subsection (2), any person who for any compensation and through any medium does one or more of the following:

  • Title insurance agent means an agent licensed in the Commonwealth to sell, solicit, or negotiate

  • Insurance Company The Transferee is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a state, U.S. territory or the District of Columbia.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

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

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • policy of life insurance means any instrument by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, or any instrument evidencing a contract which is subject to payment of premiums for a term dependent on human life;

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Insurance Administration means, with respect to each Shared Policy, the accounting for premiums, retrospectively-rated premiums, defense costs, indemnity payments, deductibles and retentions, as appropriate, under the terms and conditions of each of the Shared Policies; and the reporting to excess insurance carriers of any losses or claims which may cause the per-occurrence, per claim or aggregate limits of any Shared Policy to be exceeded, and the distribution of Insurance Proceeds as contemplated by this Agreement.

  • Insurance adjuster means a person who directs or conducts the investigation, negotiation, or settlement of a claim under an insurance policy other than life insurance or an annuity, on behalf of an insurer, policyholder, or a claimant under an insurance policy.

  • Credit property insurance means insurance: