Part 21 of the Schedule details the standard requirements for insurance cover which the Contractor must hold and the terms and conditions on which the policies must be maintained. Variations to these standard requirements should be kept to a minimum although it is recognised that changes may be required for project specific reasons or to reflect the availability of insurance in the market.
As insurance is so vital to the project there are many obligations in relation to insurance on the Contractor, for example:-
29.1.1 the insurance must always be with an insurer acceptable to the Board; and
29.1.2 the Contractor must supply the Board with evidence that the appropriate insurances have been maintained.
It is the Contractor's responsibility to manage its insurances: any failure to do so will not reduce its liability to the Board in terms of the Contract.