57.3  Nature of the Insurances

With the exception of any insurances required by law, the insurances referred to in clauses 57.1.1 and 57.1.2 (Requirement to Maintain) above shall:

57.3.1  subject to clause 57.4 (Co-Insured) below, name the Authority as co-insured with any other party maintaining the insurance;

57.3.2  [provide for non-vitiation protection in respect of any claim made by the Authority as co-insured in accordance with Endorsement [2] in Part 3 of Schedule 11;]

57.3.3  contain a clause waiving the insurers' subrogation rights against the Authority and its employees and agents in accordance with Endorsement [2] in Part 3 of Schedule 11;

57.3.4  provide for twenty (20) Business Days' prior written notice of their cancellation, non-renewal or amendment to be given to the Authority286 in accordance with Endorsement [1] in Part 3 of Schedule 11; and

57.3.5  in respect of the Physical Damage Policies provide for payment of any proceeds received by the Contractor to be applied in accordance with clause 58 (Reinstatement and Change of Requirement after Insured Event);

__________________________________________________________________________________________

286 To the extent that the Authority has an insurable interest.