16.1 hubco shall indemnify and keep each of the Participants indemnified at all times from and against all Direct Losses sustained by such Participant in consequence of:
16.1.1 any claim for, or in respect of, the death and/or personal injury of any employee of, or person engaged by, hubco or any hubco Party notwithstanding any act or omission of the Participants or any Participant Party;
16.1.2 any claim for, or in respect of, the death and/or personal injury of any third party (other than a person referred to in Clause 16.1.1 or Clause 16.2.1) arising out of, or in the course of, the hubco Operations, save to the extent caused (or contributed to) by any negligent act or omission by that Participant (or a Participant Party relating to that Participant) in respect of the performance or non-performance of the Participant's obligations hereunder or breach of any express provision of this Agreement by that Participant (or relevant Participant Party);
16.1.3 any physical loss of or damage to the Participant's assets arising by reason of any act or omission of hubco or any hubco Party, save to the extent that such loss or damage arises out of any negligent act or omission by that Participant (or a Participant Party relating to that Participant) relating to the performance or non-performance of the Participant's obligations hereunder or breach of any express provision of this Agreement by that Participant (or relevant Participant Party); and
16.1.4 any loss of or damage to property or assets of any third party arising by reason of any act or omission of hubco or any hubco Party, save to the extent that such loss or damage arises out of any negligent act or omission by that Participant (or a Participant Party relating to that Participant) relating to the performance or non-performance of the Participant's obligations hereunder or breach of any express provision of this Agreement by that Participant (or relevant Participant Party),
PROVIDED THAT in the case of Clauses 16.1.3 and 16.1.4 to the extent the loss or damage referred to has been caused by a negligent act or omission of the Participant or relevant Participant Party then the Participant shall be responsible for the deductibles under any policy of insurance required under this Agreement and any amount over the maximum amount required to be insured under such insurance policy.