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ARTICLE 13 - INSURANCE, LIABILITIES & INDEMNITIES
13.1. EXTENT OF INSURANCE COVERAGE:
The CONTRACTOR shall, at its own expense, keep the entire Vessel, the 代写留学生论文Work, the OWNER Furnished Equipment and all machinery, material, equipment, appurtenances and outfit, delivered to the Shipyard for the Work or built into, or installed in or upon the Vessel fully insured with insurance companies and policies acceptable to OWNER payable in U.S. Dollars from the commencement of this Agreement until the Work has been completed and the Vessel has been redelivered to and accepted by OWNER. Such insurance, which is further described on Appendix 2 hereto, shall be carried with prime insurance companies and provide coverage corresponding to the latest form of Institute of London Underwriter clauses for Builder’s Risk, extended to cover risks of war, including terrorism, as well as perils of strikes, riots and civil commotion, tests and trials, and protection and indemnity risks. The amount of such insurance coverage shall, up to the date of redelivery of the Vessel, be in an amount at least equal to, but not limited to, the value of the Vessel, the Work and the OWNER Furnished Equipment. One copy each of CONTRACTOR’s Risks insurance policies shall be delivered to OWNER prior to the commencement of the Work by CONTRACTOR. All losses under such policy or policies shall be payable to CONTRACTOR and OWNER as their respective interests may appear. Further, all deductibles and co-insurance arising under said policies shall be for the account of the CONTRACTOR. CONTRACTOR shall also arrange for and provide throughout the term of this Agreement (i) Employer’s Liability insurance with statutory limits as required by the law applying to the location of the Shipyard; (ii) Comprehensive General Liability insurance covering bodily injury and property damage and ship repairer’s legal liability with limits of at least $1,000,000 each occurrence and $5,000,000 in the aggregate; and (iii) Excess Umbrella Liability Insurance with limits of at least $10,000,000 above (i) and (ii) above (to be reviewed case by case), all as detailed in Appendix 2 hereto.
13.2. NAMING AND WAIVING:
13.3. APPLICATION OF RECOVERED AMOUNT:
13.4. TERMINATION OF THE CONTRACTOR'S OBLIGATION TO INSURE:
13.5. INDEMNITY OF OWNER AND CONTRACTOR:
13.6. CONSEQUENTIAL DAMAGES:
13.7. POLLUTION:
APPENDIX 2
INSURANCE
MINIMUM INSURANCE REQUIREMENTS
I INSURANCE COVERAGE TO BE PROVIDED BY BUILDER:
A. Worker's Compensation and Employer's Liability Insurance in accordance with all applicable State, Federal and Maritime Laws and endorsed specifically to include the following:
1. Employer's Liability including occupational disease with limits of liability not less than $500,000 each accident.
2. Voluntary Compensation Endorsement.
3. Maritime Coverage Endorsement for masters and members of the crew of vessels or subcontracting employees working offshore including coverage for transportation, wages, maintenance and cure, and diving operations with limits of liability of not less than $1,000,000 each accident. Alternatively, maritime coverage for masters and members of the crew may be pro
