Subcontractor shall procure and maintain, at its sole expense, insurance (naming NRP, NRP’s Affiliates, and, if required, General Contractor, Owner and Owner’s lenders, as additional insureds) in such amounts and for such coverages as follows: (a) commercial general liability coverage of $2,000,000 each occurrence (including products/completed operations, contractual liability coverage and personal and advertising injury coverages in the foregoing amounts), workers’ compensation coverage as required by state law (but not less than $1,000,000), and automobile/hired and non-owned liability with a $1,000,000 combined single limit, or (b) as required by the Contract Documents, or (c) as required by NRP’s insurer, whichever of (a), (b) or (c) is higher (as to amount) and broader (as to coverage types). Coverages shall be on an occurrence basis, or if on a claims made basis there shall be an extended reporting period of at least three years following Substantial Completion. No policy of insurance shall exclude any matter which is to be insured or indemnified by Subcontractor hereunder. Subcontractor shall provide a certificate of insurance in form satisfactory to NRP (and, if required, to Owner and Owner’s lenders) evidencing compliance with this paragraph. Subcontractor hereby waives any claim it may have against any person for personal injury or for damage or destruction of any of its property to the extent such claims are recoverable under the policies of insurance required to be carried by Subcontractor hereunder, whether or not Subcontractor actually carries such policy. By requiring the foregoing coverages, NRP does not represent that such coverages will be adequate to protect Subcontractor, and such coverages and limits shall not limit Subcontractor’s indemnities hereunder. All CGL policies shall be written on acceptable ISO forms by insurers licensed in the state where the Project is located, with an A.M. Best rating of at least A-VII.
