Common use of Professional Errors and Omissions Insurance Clause in Contracts

Professional Errors and Omissions Insurance. Consultant shall acquire and maintain, for the duration of the Agreement, Professional Errors and Omissions Insurance of at least $1,000,000 per claim, with a deductible of no more than $100,000. If such policy is a “claims made” policy, all renewals thereof during the life of this Agreement shall include “prior acts coverage” covering at all times all claims made with respect to Consultant’s work performed under the Agreement. This Professional Liability coverage must be kept in force for a period of six (6) years after the services have been accepted by the City. All insurance must be primary and non-contributory to any insurance or self-insurance carried by the City. The proof of insurance referenced above shall require the insurance company to notify the City at least 30 days prior to the expiration, cancellation, non-renewal, or material change in the coverage. The Certificate Holder on the proof of insurance should be listed as: City of Sheboygan, Wisconsin ▇▇▇ ▇▇▇▇▇▇ ▇▇▇. Sheboygan, Wisconsin 53081 The insurance coverage required must be provided by an insurance carrier with the “Best” rating of “A-VII” or better. Approval of the insurance by the City shall not relieve or decrease the extent to which Consultant may be held responsible for payment of damages resulting from Consultant’s provision of the Services or its operations under this Agreement. If Consultant fails or refuses to procure or maintain the insurance required by these provisions, or fails or refuses to furnish the City the required proof that the insurance has been procured and is in force and paid for, the City shall have the right at its election to terminate the Agreement.

Professional Errors and Omissions Insurance. Consultant shall acquire and maintain, for the duration of the Agreement, Professional Errors and Omissions Insurance of at least $1,000,000 per claim, with a deductible of no more than $100,000. If such policy is a “claims made” policy, all renewals thereof during the life of this Agreement shall include “prior acts coverage” covering at all times all claims made with respect to Consultant’s work performed under the Agreement. This Professional Liability coverage must be kept in force for a period of six (6) years after the services have been accepted by the City. All insurance must be primary and non-contributory to any insurance or self-insurance carried by the City. The proof of insurance referenced above shall require the insurance company to notify the City at least 30 days prior to the expiration, cancellation, non-renewal, or material change in the coverage. The Certificate Holder on the proof of insurance should be listed as: City of Sheboygan, Wisconsin ▇▇▇ ▇▇▇▇▇▇ ▇▇▇. Sheboygan▇▇▇▇▇▇▇▇▇, Wisconsin 53081 ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ The insurance coverage required must be provided by an insurance carrier with the “Best” rating of “A-VII” or better. Approval of the insurance by the City shall not relieve or decrease the extent to which Consultant may be held responsible for payment of damages resulting from Consultant’s provision of the Services or its operations under this Agreement. If Consultant fails or refuses to procure or maintain the insurance required by these provisions, or fails or refuses to furnish the City the required proof that the insurance has been procured and is in force and paid for, the City shall have the right at its election to terminate the Agreement.