Master Agreement For Transportation By Motor Carrier Page 8
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1612.
Insurance.
(a)
Carrier shall maintain and shall require each of its substitute service providers, if any, to
maintain the following types of insurance coverages with not less than the limits of coverage
specified below or that Carrier maintains as part of its general program of business insurance,
whichever are greater, and for the coverage periods as long as the Carrier Agreement is in effect
(the “Insurance”):
(i)
$1,000,000.00 per occurrence of commercial general liability insurance (including
umbrella coverage), on a form at least as broad as Insurance Services Office ("ISO")
commercial general liability "occurrence" form CG 00 01 0196 (available through a
commercial insurance broker) or another "occurrence" form providing equivalent coverage
and approved in writing by ArcelorMittal; and such commercial general liability insurance
and any necessary riders thereto shall provide at least the following coverages: (1)
contractual liability coverage as applicable to any hold harmless agreements in this
Agreement; (2)completed operations coverage; and (3) broad form property coverage for
property and Goods in the care, custody, or control of the Carrier;
(ii)
Workers Compensation and occupational disease insurance securing compensation
for the benefit of Carrier employees and the employees of each Subcontractor, if any, as
required by applicable laws, including the laws of each State where the employment
contracts of such employees were made. Such coverage need not be obtained if Carrier
has an accepted program of self-insurance under applicable laws or participates in an
applicable monopolistic state Workers Compensation fund;
(iii)
$500,000.00 per occurrence of Employers liability insurance; and
(iv)
$1,000,000.00 combined single limit of Motor vehicle liability insurance issued on a
form at least as broad as ISO Business Auto Coverage Form CA 00 01 07 97 or other form
providing equivalent coverage, covering all owned, hired, borrowed and non-owned
vehicles (Symbol 1) brought onto the real property of any ArcelorMittal Company.
(v)
$50,000 per occurrence of Motor Truck Cargo Liability insurance.
(b)
The commercial general liability, motor vehicle liability and Workers Compensation
insurance shall contain a waiver of subrogation in favor of ArcelorMittal's Indemnitees, except that
the waiver of subrogation shall not apply to the extent that any covered loss, damage or expense
is caused solely by the negligence or willful misconduct of ArcelorMittal Indemnitees.
The
required commercial general liability, employers’ liability, and motor vehicle liability insurance
policies shall cover ArcelorMittal and ArcelorMittal Companies as an additional insured.
Such
coverage shall be primary to and noncontributory with any other insurance carried by
ArcelorMittal.
(c)
The commercial general liability, employers liability and motor vehicle liability Insurance
shall not have deductibles or self-insured retentions which are greater than the lesser of (i) five
percent (5%) of the coverage limit required for the policy, or (ii) the deductibles or self-insured
retentions in Carrier's general program of business insurance, unless approved in writing by
ArcelorMittal's authorized representative. All deductibles on the Insurance shall be borne by
Carrier at its sole expense, without reimbursement by ArcelorMittal, and shall be treated as
“insurance” for the purpose of the waiver in subsection (f) below.
(d)
All Insurance shall be maintained with insurance carriers reasonably satisfactory to
ArcelorMittal who are qualified to do business in the jurisdiction(s) in which the Services are
May 2015
Page 8 of 16
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