Professional Indemnity Clause Samples
The Professional Indemnity clause requires one party, typically a service provider or consultant, to maintain insurance coverage that protects against claims arising from professional negligence, errors, or omissions in the performance of their duties. This clause usually specifies the minimum amount of coverage required, the duration for which the insurance must be maintained, and may require evidence of the policy to be provided to the other party. Its core function is to allocate risk and provide financial protection for both parties in the event that professional mistakes lead to losses or legal claims, thereby ensuring accountability and mitigating potential liabilities.
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Professional Indemnity. C11.1 The Contractor shall effect and maintain appropriate professional indemnity insurance cover of an amount not less than £5,000,000 per incident or such higher amount as the Authority may reasonably require during the Contract Period and shall ensure that all Contractor’s Personnel involved in the supply of the Services do the same. Such insurance shall be maintained for a minimum of six (6) years following the expiration or earlier termination of the Contract, unless the Contract has been entered into by way of a deed in which event the period shall be twelve (12) years.
Professional Indemnity. The Supplier shall effect and maintain a professional indemnity insurance policy during the Contract Period and shall ensure that all agents, professional consultants and sub-contractors involved in the supply of the Services effect and maintain appropriate professional indemnity insurance during the Contract Period. To comply with its obligations under this clause and as a minimum, the Supplier shall ensure professional indemnity insurance held by the Supplier and by any agent, sub-contractor or consultant involved in the supply of the Services has a limit of indemnity of not less than two million pounds sterling £2,000,000 for each individual claim or such higher limit as the Authority may reasonably require (and as required by law) from time to time. Such insurance shall be maintained for a minimum of six (6) years following the expiration or earlier termination of the Contract.
Professional Indemnity. The Contractor shall hold and maintain professional indemnity insurance cover and shall ensure that all professional consultants or sub-contractors involved in the provision of the Services hold and maintain appropriate cover. To comply with its obligations under this clause 51.1, and as a minimum, the Contractor shall ensure professional indemnity insurance held by the Contractor and by any agent, sub- contractor or consultant involved in the performance of Services has a limit of indemnity of not less than £2 million for any occurrences arising out of each and every event. Such insurance shall be maintained for a minimum of 12 (twelve) years following the expiration or earlier termination of the Agreement.
Professional Indemnity. Professional indemnity for information technology (also known as Errors and Omissions Insurance) of at least USD $2,000,000
Professional Indemnity. 9.1. The Broker will maintain professional indemnity insurance cover in respect of its business with and on standard terms offered by reputable insurers.
Professional Indemnity. 28.1 The Contractor shall, where appropriate, effect and maintain appropriate professional indemnity insurance cover during the Contract Period and shall ensure that all agents, professional consultants and sub-contractors involved in the supply of the Services do the same. To comply with its obligations under this clause and as a minimum, the Contractor shall ensure professional indemnity insurance held by the Contractor and by any agent, sub-contractor or consultant involved in the supply of the Services has a limit of indemnity of not less than one million pounds £1,000,000 for each individual claim or such higher limit as the Authority may reasonably require. Such insurance shall be maintained for a minimum of 6 (six) years following the expiration or earlier termination of the Contract.
28.2 Where the Contractor or its agents, professional consultants, and sub contractors do not hold professional indemnity insurance which the Authority believes is reasonably required, the Authority may allow a period of 20 Working Days for a policy of such insurance to be obtained. If such insurance is not taken out the Authority may terminate the Contract immediately by giving notice in writing.
Professional Indemnity. 5.1 We undertake to maintain an adequate policy in respect of Professional Indemnity Insurance.
5.2 You must also maintain at all times adequate Professional Indemnity Insurance in accordance with FCA Rules. This shall apply so long as liability shall continue to exist in relation to acts, errors and omissions caused in relation to business transacted under the terms of this Agreement. You will provide Us with details of the Professional Indemnity Insurance at any time at Our request.
Professional Indemnity. 21.1 - During the term of this Agreement, the Town agrees to provide complete professional indemnity for sergeants, full and part-time officers (up to $1,000,000.00) by inclusion in the Town's insurance coverage. Duty shall include all police activities engaged in by the officer as customary and reasonable to the job.
Professional Indemnity. All Vendor-Partners are responsible for Professional Indemnity cover of R5 million; Vendor-Partners who have a material design element, excluding typical P & G related work, as part of their scope, are responsible for a Professional Indemnity cover of R5 million; In the event of a claim above R5 million, the ACSA PI cover will kick in for the amount in excess of R5 million; Proof of cover in the form of a certificate of insurance should be provided to ACSA before a contract is signed between ACSA and the Vendor-Partner and/or Vendor-Partner.
Professional Indemnity. GUIDANCE : the level of professional indemnity insurance should be considered by the CLIENT on a case-by-case basis. Professional advice should be taken if necessary.
51.1 The SERVICE PROVIDER shall effect and maintain a professional indemnity insurance policy during the Contract Period and shall ensure that all agents, professional consultants and sub- contractors involved in the supply of the Services effect and maintain appropriate professional indemnity insurance during the Contract Period. To comply with its obligations under this Clause and as a minimum, the SERVICE PROVIDER shall ensure professional indemnity insurance held by the SERVICE PROVIDER and by any agent, sub-contractor or consultant involved in the supply of the Services has a limit of indemnity of not less than two million pounds sterling (£2,000,000) for each individual claim or such higher limit as the CLIENT may reasonably require (and as required by law) from time to time. Such insurance shall be maintained for a minimum of six (6) years following the expiration or earlier termination of the Contract.