Rental Insurance Requirements
Prior to release of equipment, the Rentee must provide Toronto Projector Rentals (Signcast Media Inc.) with a certificate of insurance evidencing the following levels of coverage.
1. Maximum Replacement Cost and Broad Form Coverage
Coverage must specify replacement cost (at the full cost to repair or replace property at the time of loss with equivalent, new equipment or its successor technology without deduction for depreciation).
2. Signcast Media Inc. listed as sole Loss Payee
Signcast Media Inc. must be listed as sole Loss Payee with respect to loss or damage to equipment rented or leased to the Named Insured.
3. Additional Insured
Signcast Media Inc. must be listed as Additional Insured with respect to liability arising out of the operations of the Named Insured.
4. General Liability – no less than $1,000,000 each occurrence
General Liability insurance covering bodily injury and property damage with an insurance limit of no less than $1,000,000 each occurrence.
5. Territory of Coverage
Territory policy must be specified (Worldwide, North America, US and/or Canada).
6. Breach of Conditions
The insurance provided by the above scheduled policies shall be in force as to the interest of the Certificate Holder notwithstanding any act, neglect, omission or misrepresentation attributable to the Named Insured.
7. Proof of Loss
In the absence of the Named Insured or the inability, refusal or neglect of the Named Insured to give notice of loss or deliver the required Proof of Loss under the policy(ies), the Certificate Holder may give the notice upon becoming aware of the loss and deliver, as soon as practicable, the Proof of Loss.
8. Cancellation Notice
Certificate must contain a clause requiring thirty (30) days written notice of cancellation or material change in coverage.
If any of the above items are not specifically evidenced on the Certificate of Insurance, it will not be accepted.
Please forward this page to your insurance broker to facilitate issuance of accurate documentation.