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: 2905/009410-1001 19412635.3 a06/03/24 (i) The retroactive date of the policy must be shown and must be no later than the commencement of the Services. (ii) 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, Contractor 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 endorsement; or (3) replacement insurance with a retroactive date no later than the commencement of the Services under this Agreement. City shall have the right to exercise, at Contractor’s sole cost and expense, any extended reporting provisions of the policy, if Contractor cancels or does not renew the coverage. (iii) A copy of the claim reporting requirements must be submitted to City prior to the commencement of the Services under this Agreement.‌

Claims-made limitations. The following provisions shall apply if the professional liability coverage is written on a claims-made form: 2905/009410-1001 19412635.3 a06/03/24form:‌ (i) The retroactive date of the policy must be shown and must be no later than the commencement of the Services. (ii) 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, Contractor 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 endorsement; or (3) replacement insurance with a retroactive date no later than the commencement of the Services under this Agreement. City shall have the right to exercise, at Contractor’s sole cost and expense, any extended reporting provisions of the policy, if Contractor cancels or does not renew the coverage. (iii) A copy of the claim reporting requirements must be submitted to City prior to the commencement of the Services under this Agreement.‌Agreement.

Claims-made limitations. The following provisions shall apply if the professional liability coverage is written on a claims-made form: 2905/009410-1001 19412635.3 a06/03/24form:‌ (i) The retroactive date of the policy must be shown and must be no later than the commencement of the Services. . 2905/009410-1001 19412635.3 a03/24/25 (ii) 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, Contractor 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 endorsement; or (3) replacement insurance with a retroactive date no later than the commencement of the Services under this Agreement. City shall have the right to exercise, at Contractor’s sole cost and expense, any extended reporting provisions of the policy, if Contractor cancels or does not renew the coverage.coverage.‌ (iii) A copy of the claim reporting requirements must be submitted to City prior to the commencement of the Services under this Agreement.‌Agreement.