1987-138 - Laserfiche WebLink

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INSURANCE FOR BENEFIT OF FLORIDA EAST COAST RAILWAY COMPANY TO BE OBTAINED AND KEPT IN FULL FORCE AND EFFECT AT COST OF CONTRACTOR In further considerationof the sums of money herein speci- fied to be paid to Contractor ,'Contractor, at its cost and ex- pense, shall obtain and keep in effect, insurance policy or poli- cies in the limits of $1,000,000.00 eachperson injured or killed and $2,000,000.00 each occurrence and $1,000,000.00 property damage per person and $2,000,000.00 property damage each occurrence directly by Cofitractual Liability Endorsement to Contractor's General Public Liability and Property Damage Insurance Policies insuring Contractor against loss or damage to Contractor upon the indemnities concurrently extended to the'Florida East Coast Rail- way Company and within the limits specified in this paragraph. Alternatively, Contractor may procure and keep in effect during the life of this construction contract, as aforesatd, Railroad Protective Liability Policies insuring Florida East Coast Railway Company directly as insured against losses and damages but within the limits specified in this paragraph. All such insurance, directly or indirectly for the benefit of the Florida East Coast Railway Company, shall be in a form satisfactory to its Manager of Insurance and issued by a casualty company -insurance company authorized to do business in.the State of Florida that has a "Best's" rating of A or A+ and a financial size category of Class XII'or higher.