Common use of Claims-made limitations Clause in Contracts

Claims-made limitations. The following provisions shall apply if the professional liability coverage is written on a claims-made form: (i) The retroactive date of the policy must be shown and must be no later than the commencement of the Services. (ii) Insurance must be maintained and evidence of insurance must be provided for at least five (5) years after the expiration or termination of this Agreement or completion of the Services, so long as commercially available at reasonable rates.‌ (iii) If coverage is canceled or not renewed and it is not replaced with another claims-made policy form with a retroactive date that precedes the Effective Date of this Agreement, Consultant must provide extended reporting coverage for a minimum of five (5) years after the expiration or termination of this Agreement or the completion of the Services. Such continuation coverage may be provided by one of the following: (1) renewal of the existing policy;

Appears in 1 contract

Sources: Professional Services

Claims-made limitations. The following provisions shall apply if the professional liability coverage is written on a claims-made form:form:‌ (i) The retroactive date of the policy must be shown and must be no later than the commencement of the Services. (ii) Insurance must be maintained and evidence of insurance must be provided for at least five (5) years after the expiration or termination of this Agreement or completion of the Services, so long as commercially available at reasonable rates.‌ (iii) If coverage is canceled or not renewed and it is not replaced with another claims-made policy form with a retroactive date that precedes the Effective Date of this Agreement, Consultant must provide extended reporting coverage for a minimum of five (5) years after the expiration or termination of this Agreement or the completion of the Services. Such continuation coverage may be provided by one of the following: (1) renewal of the existing policy;; (2) an extended reporting period 2905/009410-1001 19412602.3 a02/14/24

Appears in 1 contract

Sources: Professional Services

Claims-made limitations. The following provisions shall apply if the professional liability coverage is written on a claims-made form: (i) The retroactive date of the policy must be shown and must be no later than the commencement of the Services. (ii) Insurance must be maintained and evidence of insurance must be provided for at least five (5) years after the expiration or termination of this Agreement or completion of the Services, so long as commercially available at reasonable rates.‌rates. (iii) If coverage is canceled or not renewed and it is not replaced with another claims-made policy form with a retroactive date that precedes the Effective Date of this Agreement, Consultant must provide extended reporting coverage for a minimum of five (5) years after the expiration or termination of this Agreement or the completion of the Services. Such continuation coverage may be provided by one of the following: (1) renewal of the existing policy;

Appears in 1 contract

Sources: Professional Services