A standard clause listing the insurance coverage each side must carry. The requirements are reasonable. This clause is called "Minimum Rating Requirement".
Key Recommendation
Check your current policies match what is required. If not, ask your insurance agent for a quote.
Frequently Asked Questions
What does this clause mean in simple terms?
A standard clause listing the insurance coverage each side must carry.
Why should I care about this clause?
The requirements are reasonable.
What are my options?
This clause is called "Minimum Rating Requirement".