Professional Indemnity Insurance Sample Clauses
The Professional Indemnity Insurance clause requires a party, typically a contractor or consultant, to maintain insurance coverage that protects against claims arising from professional negligence, errors, or omissions in the performance of their services. 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 ensure that financial resources are available to cover potential liabilities, thereby protecting both parties from the consequences of professional mistakes.
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Professional Indemnity Insurance. A policy of insurance to cover claims made against the insured for: civil liability for breach of professional duty (whether owed in contract or otherwise); and unintentional breaches of third party intellectual property, by the Contractor or its subcontractors in carrying out the Contractor's Activities.
Professional Indemnity Insurance. The Agent confirms that he holds Professional Indemnity Insurance. Details of the cover are available on request.
Professional Indemnity Insurance. In accordance with the rules of the Solicitors Regulation Authority we maintain professional indemnity insurance, details of which are available at our offices.
Professional Indemnity Insurance. The Contractor shall secure and maintain professional indemnity insurance that shall cover Professional Liability and Error and Omissions in the face amount of $5,000,000. The Contractor shall secure and maintain liability coverage in minimum limits of $2,000,000 (with umbrella) on all automobiles used in performing the services under the Contract. Before providing services to the Customer, any subcontractor of the Contractor shall provide insurance as follows: General Liability - $2,500,000; Workers’ Compensation – statutorily required amount; and Automobile Liability (with umbrella) - $2,000,000. The Contractor’s major subcontractors shall provide the following additional insurance: Errors and Omissions -- $2,500,000. At the request of the Department, the Contractor shall provide all relevant certificates and endorsements as proof of such insurance or proof of its ability to self-insure, including renewal or replacement evidence of insurance at least 30 days prior to the expiration or termination of any insurance.
Professional Indemnity Insurance. 16.1 Each Party will each have and maintain, at its own cost, Professional Indemnity insurance in relation to their activities associated with transacting insurance business with the Underwriting Manager. For regulated entities this should be the minimum level as prescribed by the Party’s Home State regulator.
16.2 The Producer agrees to supply details of its Professional Indemnity insurance cover to the Underwriting Manager on an annual basis or as requested by the Underwriting Manager.
Professional Indemnity Insurance. In accordance with section 45 of the Property Services (Regulation) ▇▇▇ ▇▇▇▇ there is in force a policy of professional indemnity insurance which covers the Agent in the provision of this property service. The insurance company which holds the cover is: Name: Complete as appropriate Address: Policy number:
Professional Indemnity Insurance. Contractor must secure and continuously maintain professional indemnity insurance that must cover professional liability and error and omissions in the face amount of $5,000,000. Contractor will indemnify, defend, and hold harmless the Department and its employees and agents, from and against any third-party claims, demands, loss, damage, or expense caused by Contractor in connection with the performance of the Services related to professional liability and error and omissions. Each insurance certificate for such policy must include an agreement that the insurer will provide thirty (30) Calendar Days prior written notice to the Department of cancellation for any coverage. The Contractor will provide all certifications of insurance as proof of insurance including evidence of renewed or replaced coverage, at least thirty (30) Calendar Days prior to the expiration or termination of any insurance policy.
Professional Indemnity Insurance. 14.1 The Contractor by this Deed covenants with the Beneficiary that it has taken out and shall maintain Professional Indemnity Insurance, for the duration of the Liability Period in relation to the [Works] [Services], provided always that:
14.1.1 if such insurance is not available to the Contractor at commercially reasonable rates and terms (excluding any increase in premiums attributable to the actions, omissions, errors or defaults of the Contractor), the Contractor and the Beneficiary shall meet, the Contractor shall outline the steps it intends to take to manage such risks and the Contractor and the Beneficiary shall use reasonable endeavours to agree a method of managing such a risk;
14.1.2 the Contractor shall provide the Beneficiary with reasonable evidence that the policies referred to in this clause 5 are in full force and effect together with a summary of the policy terms and conditions.
Professional Indemnity Insurance. In the case of Joint/Multiple Agency Agreements – details of each insurance policy must be provided
Professional Indemnity Insurance. All of Core’s mediators will have professional indemnity insurance in an adequate amount with a responsible insurer. • A copy of the current insurance policy is available upon request.