64.3  Nature of the Insurances

With the exception of any insurances required by law, the insurances referred to in clauses 64.1 shall:

(a)  subject to paragraph (e) below, name the Contractor as co-insured with any other party maintaining the insurance;

(b)  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 14;

(c)  contain a clause waiving the insurers' subrogation rights against the Authority, its employees and agents in accordance with Endorsement [2] in Part 3 of Schedule 14;

(d)  provide for thirty (30) days prior written notice of their cancellation, non-renewal or amendment to be given to the Authority177 in accordance with Endorsement [1] in Part 3 of Schedule 14; and

(e)  in respect of the Physical Damage Policies provide for payment of any proceeds received by the Contractor to be applied in accordance with Clause 65 (Reinstatement and Change of Requirement After Insured Event).

64.3.2  Wherever possible, the insurances referred to in clause 64.1 shall name the Authority as a co-insured for its separate interest.178

_________________________________________________________________________________

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

178 This will only be possible for policies in which the Authority has an insurable interest (not, for example, Professional Indemnity Insurance) or where the policy has an "indemnity to principals" provision (for example, in an employers liability insurance).