63.4  Nature of the Insurances

With the exception of any insurances required by law, the insurances referred to in clauses 63.1 and 63.2 (Requirement to Maintain) shall:

(a)  subject to clause 63.5 (Nature of the Insurances), 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 [  ] in Part [   ] of Schedule 14 (Required Insurances);

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

(d)  provide for [twenty (20)] Business Days' prior written notice of their cancellation, non-renewal or amendment to be given to the Authority192 in accordance with Endorsement [    ] in Part [   ] of Schedule 14 (Required Insurances); 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 64 (Reinstatement and Change of Requirement after Insured Event).

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