53.16 With effect from the date of this Agreement, the Authority and Sub-hubco shall each designate or appoint an insurance and risk manager and notify details of the same to the other party. Such person shall:
53.16.1 be responsible for dealing with all risk management matters on behalf of its appointing or designating party including (without limitation) ensuring compliance by that party with this Clause 53.16;
53.16.2 advise and report to that party on such matters; and
53.16.3 ensure that any report or survey conducted by any insurer of any relevant procedures in relation to the Project is disclosed to the parties.
53.17 Without prejudice to the provisions of Clause 53.16, the parties shall notify one another, and in Sub-hubco's case the relevant insurer, of any circumstances which may give rise to a claim of a value equal to or in excess of [ ] [( )] (index linked) under the Insurances within [ ] Business Days of becoming aware of the same (or earlier, if so requested by the terms of the relevant insurance policy). If any insurer disputes any such claim, Sub-hubco shall provide the Authority with full details of any disputed claim and the parties shall liaise with one another to ensure that the relevant claim is preserved or pursued.