10.1 The parties shall use best endeavours to ensure that, from the date hereof the Academy is a named co-insured on any project-specific insurances that the Contractor may have taken out pursuant to the Project Agreement (with an appropriate waiver of subrogation).27
10.2 The Academy shall not take or fail to take any reasonable action or (insofar as it is reasonably within its power) permit anything to occur in relation to it which would entitle any reasonable insurer to refuse to pay any claim under any policy taken out pursuant to the Project Documents.
10.3 The Academy shall take out and maintain insurances which:
10.3.1 cover the risk of physical loss and/or damage to the contents of the School (but this shall in no way extend to the taking out and maintenance of any insurance in respect of any risk covered by any insurance required to be taken out and maintained under the Project Documents); and
10.3.2 are otherwise required by Legislation in relation to the risks relevant to the operation of the School and the provision of Educational Services at the School.
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27 The DFE will want to see that the Academy has become a co-insured on the project insurances, and so can benefit from any proceeds, if appropriate, following an insured event. Specialist insurance advice should be taken. The Academy will want to agree with the Authority (and the PFI Contractor if appropriate) on arrangements for the provisions of policy details, and information relevant to claims etc.