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Liability insurance shall indemnify the Contractor <br /> or his subcontractors, for damages on account of <br /> such bodily injury and property damage. The <br /> insurance shall also indemnify the Contractor and <br /> his subcontractors against losses related to <br /> completed operations and products. The insurance <br /> shall be provided by a comprehensive, broad form <br /> occurrence property damage liability policy written <br /> by licensed underwriters. The policies shall cover <br /> operations, owned and nonowned vehicles and <br /> equipment, contractors protective coverage blanket, <br /> contractual liability, and completed operations <br /> liability. The liability insurance shall not <br /> exclude explosion, collapse, underground excavation, <br /> or removal of lateral support and shall include <br /> crossliability. The Owner, their agents, sub- <br /> contractors, and employees shall be named as insured <br /> on the liability policies. <br /> <br />b. Worker's Compensation Insurance <br /> <br /> The Contractor and the subcontractors shall cover or <br /> insure under applicable laws relating to worker's <br /> compensation or employers liability insurance, their <br /> employees, working on or about the construction <br /> site, regardless of whether such coverage or <br /> insurance is mandatory or merely elective under the <br /> law. The Contractor shall defend, protect, save <br /> harmless the Owner from and against claims, suits <br /> and actions arising from failure of the Contractor <br /> or the subcontractors to maintain such insurance. <br /> <br />c. Builders Risk <br /> <br /> Contractor shall secure all-risk type of builders <br /> risk insurance covering work performed under the <br /> contract and materials, equipment or other items to <br /> be incorporated therein, while the same are located <br /> at the construction site, stored off site, or at the <br /> place of manufacture. The policy shall cover not <br /> less than losses due to fire, flood, explosion, <br /> hail, lightning, vandalism, malicious mischief, <br /> wind collapse, riot, aircraft, and smoke until the <br /> date of final acceptance of the work. The policy <br /> may exclude loss or damage caused by or resulting <br /> from errors in design or from the use of substandard <br /> materials or supplies used knowingly by or at the <br /> direction of the insured, but not excluding results, <br /> physical loss, or damage to other property covered <br /> hereunder. Neither exclusion shall apply in the <br /> event of fire, explosion, or acts of God. The <br /> maximum deductible allowable under this policy shall <br /> <br /> <br />