18. Warranties, Liability and Insurance
18.9 Partner insurance obligations. The Partner will obtain and continuously maintain the insurance on a claims arising basis with an insurance company of a credit rating of A or better as set out below and CEPI will bear such costs to the extent modifications of the insurance coverage are triggered by the collaboration hereunder:
18.9.1. During the period covered by the IPDP. clinical trials insurance as follows:
(i) the Partner (to the extent the Partner is the sponsor of a clinical trial of Project Vaccine) shall obtain and shall ensure that any Subcontractor that is the sponsor of a clinical trial shall obtain, clinical trial insurance on a claims arising basis of at least € [*****] per patient and € [*****] for all insured events from one study per claim including non-negligence cover, such insurance to be effective from the commencement date of the clinical trial until at least [*****] after the completion of the clinical trial or such longer period as is required by the relevant ethical committee or an applicable statutory period of limitation;
(ii) During the Project Term and for [*****] afterwards, general commercial liability insurance including contractual liability of at least € [*****] per insured event for personal injury and property damage;
(iii) The Partner shall comply with the terms of these insurance policies for the term and for at least the duration of any applicable statutory period of limitation afterwards;
(iv) The Parties acknowledge that as at the Effective Date the World Health Organization (“WHO”) is considering an insurance mechanism which would provide insurance cover for the suppliers of investigational products for use in the case of a “Public Health Emergency of International Concern” declared by WHO. The Parties agree that when this mechanism is in place the Parties will discuss in good faith the impact of such arrangement on the Parties’ obligations under this Agreement and how it will apply to the supply of Product in an Outbreak or Outbreak risk.
18.10 CEPI insurance obligations. On exercise of the Public Health License, CEPI will procure that:
18.10.1. equivalent insurance protection for the Partner to that specified at Clause 18.9 is in place in respect of the Development and Manufacturing of Project Vaccine for use in the Field in the Affected Territories conducted by or on behalf of CEPI;
18.10.2. procure that the insurer notes Partner’s interest on each such insurance policy;
18.10.3. provide Partner with a copy of each such insurance policy and certificate and annually on renewal; notify Partner of any claims made under these policies relating to Project Vaccine for use in the Field in the Affected Territory for the Project Term and for at least the duration of any applicable statutory period of limitation afterwards; and
18.10.4. procure compliance with the terms of these insurance policies for the Project Term and for at least the duration of any applicable statutory period of limitation afterwards.