For Professional Liability Sample Clauses

The 'For Professional Liability' clause defines the responsibilities and obligations of parties regarding claims arising from professional errors, omissions, or negligence. Typically, this clause requires one or both parties to maintain professional liability insurance and may specify coverage limits, reporting requirements, and the scope of covered activities, such as consulting, design, or advisory services. Its core function is to allocate risk and ensure that financial protection is in place for losses resulting from professional mistakes, thereby safeguarding both parties from potentially significant liabilities.
For Professional Liability. To the fullest extent permitted by law, the Firm shall indemnify and hold harmless the Town, and its officers and employees, from liabilities, damages, losses, and costs, including, but not limited to, reasonable attorneys’ fees, to the extent caused by the negligence, recklessness, or intentionally wrongful conduct of the Firm and other persons employed or utilized by the design professional in the performance of this Agreement.
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For Professional Liability. Errors and Omissions coverage and Crime Coverage, Vendor shall continue such coverage for six (6) years beyond the expiration or termination of this Contract, naming Purchaser as an additional insured and providing Purchaser with certificates of insurance on an annual basis and for six (6) years beyond the expiration or termination of this Contract to pay for any premiums to continue such claims-made policies, or available tails, whichever is appropriate, at Purchaser’s sole option, in the event Vendor fails to do so.‌
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For Professional Liability. Accountants will hold harmless, defend, and indemnify the Auditees and any Auditee officers, agents, and employees against all claims, demands, actions, or suits (including all attorney fees and costs), for failure to comply with auditing standards generally accepted in the United States of America, brought against any of them arising from the Accountants' gross negligent errors or gross negligent omissions under this agreement.
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Related to For Professional Liability

  • Professional Liability Before commencing work on this Agreement and throughout the term of this Agreement, the Party shall procure and maintain professional liability insurance for any and all services performed under this Agreement, with minimum coverage of $1,000,000 per occurrence, and $3,000,000 policy aggregate.

  • Professional Liability Insurance Professional liability insurance covering any damages caused by an error, omission or any negligent act with minimum limits as follows: i. $1,000,000 each occurrence; and ii. $1,000,000 general aggregate.

  • Professional Liability (Errors & Omissions Insurance with limits of not less than $1,000,000 each occurrence, $2,000,000 aggregate. Such insurance will cover all professional services rendered by or on behalf of PROVIDER and its subcontractors under this Agreement. Renewal policies written on a claims- made basis will maintain the same retroactive date as in effect at the inception of this Agreement. If coverage is written on a claims-made basis, PROVIDER agrees to purchase an Extended Reporting Period Endorsement, effective for two (2) full years after the expiration or cancellation of the policy. No professional liability policy written on an occurrence form will include a sunset or similar clause that limits coverage unless such clause provides coverage for at least three (3) years after the expiration of cancellation of this Agreement.

  • Professional Liability (Errors and Omissions) For consultant contracts, insurance appropriate to Consultant’s profession, with limit no less than $1,000,000 per occurrence or claim, $2,000,000 aggregate.

  • Professional Liability Coverage Consultant shall maintain professional errors and omissions liability insurance for protection against claims alleging negligent acts, errors or omissions which may arise from Consultant or by its employees, or subcontractors. The amount of this insurance shall not be less than one million dollars ($1,000,000) on a claims-made annual aggregate basis, or a combined single-limit per occurrence basis.