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INSURANCE AND INDEMNIFICATION

INSURANCE AND INDEMNIFICATION

The Consultant awarded the contract shall procure and maintain for the duration of the contract insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the work hereunder by the Consultant, its agents, representatives, or employees. The cost of such insurance shall be borne by the respondent Consultant.

Minimum Scope of Insurance:

The Consultant shall maintain limits no less than:

General Liability: $500,000 per occurrence for bodily injury, personal injury, and property damage. If Commercial General Liability Insurance or other forms with a general aggregate limit is used, either the general aggregate limit shall apply separately to this contract or the general aggregate limit shall be twice the required occurrence limit.

Policy Forms and Delivery

Policies and endorsements should either be on forms provided by NBHA or on other forms that meet the insurance requirements outlined in this contract. All certificates and endorsements must be received and approved by NBHA before work commences in sufficient time to permit the Consultant to remedy any deficiencies. NBHA reserves the right to require complete, certified copies of all required insurance policies, including endorsements affecting the coverage required by these specifications at any time.

Insurance policies should be issued on an "occurrence" basis. Any insurance policy issued on a "claims-made" basis shall have a retroactive date before or coincident with the effective date of this contract. The policy shall state the coverage is "claims-made," and state the retroactive date. The Consultant shall either maintain "claims-made" forms coverage for a minimum of three years following the expiration or earlier termination of this contract, providing NBHA with a renewal Certificate of Insurance annually; purchase an extended reporting period ("tail"); or execute another form of guarantee acceptable to NBHA documenting the Consultant's financial responsibility for liability for services performed under this contract.

Sub-Contractors:

The Consultant shall include all sub-contractors as insured under its policies or shall furnish separate certificates for each sub-contractor in a manner and in such time as to permit NBHA to approve them before the sub-Consultant's work begins. All coverages for subcontractors shall be subject to all of the requirements stated herein.