|
FLORIDA EAST COAST RAILWAY, L.L.C.
<br />INSURANCE REQUIREMENTS
<br />A. Liability Insurance. During the Term of this Contract, Contractor shall purchase
<br />and maintain: (i) Commercial General Liability Insurance ("CGL"), with contractual liability
<br />covering obligations assumed in this Contract (including any agreements entered into between
<br />the parties pursuant hereto) by Contractor, providing for available limits of not less than
<br />$6,000,000 single limit, bodily injury and/or property damage combined, for damages arising out
<br />of bodily injuries to or death of all persons in each occurrence and for damage to or destruction
<br />of property, including the loss of use thereof, in each occurrence, including Federal Employers
<br />Liability Act claims ("FELA") against the FECR, or other liability arising out of or incidental to
<br />railroad operations; (ii) at FECR's option, Contractor will, obtain a policy of Railroad Protective
<br />Liability with liability limits of $2,000,000 per occurrence, $6,000,000 aggregate with FECR as
<br />the only named insured.(iii) Statutory Workers' Compensation, Employer's Liability Insurance
<br />with available limits of not less than $1,000,000 and Occupational Disease Insurance; (iv) if any
<br />motor vehicles are used in connection with the Services to be performed hereunder (or in
<br />connection with any agreements entered into between the parties pursuant hereto), Business
<br />Automobile Liability Insurance with limits of not less than $1,000,000 single limit, bodily injury
<br />and/or property damage combined, for damages to or destruction of property including the loss
<br />of use thereof, in any one occurrence; and (v) if professional services are being rendered by
<br />Contractor, Professional Liability coverage in an amount not less than $1,000,000. If, in FECR's
<br />opinion, a higher limit of liability is necessary for any insurance policy required hereunder, FECR
<br />shall so notify Contractor and Contractor shall, within thirty (30) days of receipt of such notice,
<br />provide a copy of the endorsement to the appropriate policy increasing the liability coverage to
<br />the required limit. Such insurance will include a minimum of two years' tail coverage necessary
<br />to cover claims occurring during the Term but which may not be brought until after termination of
<br />this Contract.
<br />B. Policy Requirements. All insurance required hereunder shall be affected by valid
<br />and enforceable policies issued by insurer(s) of financial responsibility and authorized to do
<br />business in all necessary states, all subject to the reasonable prior approval of FECR.
<br />Contractor's liability insurance policies shall name FECR, its parent, affiliates and subsidiaries
<br />as additional insureds and will not have any exclusion for liability relating to railroad operations
<br />or contractual liability for construction or demolition within fifty (50) feet of FECR's tracks by
<br />endorsement. Contractor's Workers' Compensation and property insurance policies shall
<br />include waivers of subrogation rights endorsements in favor of FECR. All policies shall contain a
<br />provision for thirty (30) days' written notice to FECR prior to any expiration or termination of, or
<br />any change in, the coverage provided. Contractor shall provide FECR with at least thirty (30)
<br />days' written notice prior to such expiration, termination or change in any insurance coverage.
<br />Insurance Company must be issued by a casualty company/insurance company authorized to
<br />do business in the State of Florida that has a "Best's" rating of A or A+ and a financial category
<br />size of Class XII or higher. Prior to any entry upon FECR property pursuant to this Contract and
<br />upon FECR's request thereafter, Contractor shall provide or shall cause its insurer or insurance
<br />agent to provide FECR with a certificate of insurance certifying the liability insurance policies in
<br />effect for the Term of this Contract. The liability assumed by Contractor under this Contract,
<br />including, but not limited to, Contractor's indemnification obligations, shall not be limited to the
<br />insurance coverage stipulated herein.
<br />EXHIBIT "D"
<br />>,T�rrn&- UJ Page 2M
<br />
|