Principle

The private party must obtain and maintain such insurances (and on such terms) as a prudent owner or services provider would obtain and maintain for the type of facility from which the core services and Contracted Services are delivered and/or insurances required by Law and of a kind on no less favourable terms than the minimum insurance requirements specified in the project agreement. Depending on the insurance climate at the time, government may share within agreed thresholds any insurance cost increases for certain categories of operational insurance.