Professional Liability (Errors and Omissions Liability Sample Clauses
The Professional Liability (Errors and Omissions Liability) clause establishes the requirement for a party, typically a service provider or consultant, to maintain insurance coverage that protects against claims arising from professional mistakes, negligence, or failure to perform services to the agreed standard. This clause usually specifies minimum coverage amounts, the duration for which the insurance must be maintained, and may require proof of insurance to be provided to the other party. Its core function is to allocate risk by ensuring that financial responsibility for professional errors is covered, thereby protecting both parties from potential losses due to mistakes or omissions in the performance of professional services.
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Professional Liability (Errors and Omissions Liability. Each Claim $1,000,000 Annual Aggregate $2,000,000 $0 to $5,000,000 $1,000,000 Each Occurrence; $2,000,000 Aggregate $5,000,001 to $15,000,000 $5,000,000 Each Occurrence; $5,000,000 Aggregate $15,000,001 to $50,000,000 $5,000,000 Each Occurrence; $10,000,000 Aggregate $50,000,001 & up $25,000,000 Each Occurrence; $25,000,000 Aggregate
a. The Consultant shall be responsible for monitoring the Contract value as it increases and the Consultant shall be responsible for purchasing additional insurance to be in compliance with this Contract should the increased value of the Contract require a higher limit of insurance. The Department reserves the right to request that the Consultant provide proof of increased insurance coverage corresponding to increased contract value. The Consultant shall provide a new certificate of insurance that reflects the increase in limits as required in 4.20 (E) below.
b. In the event that the liability insurance required by this Contract is written on a claims-made basis, the Consultant warrants that any retroactive date under the policy shall precede the effective date of this Contract; and that either continuous coverage will be maintained or an extended discovery period will be exercised for a period of three (3) years beginning at the time work under this Contract is completed.
c. The policy shall cover professional misconduct or negligent acts for those positions defined in the Scope of Work (APPENDIX A) of this Contract.
d. Consultant is required to carry professional liability insurance regardless of the type of contract or the scope of work and it shall not be waived without prior approval from Risk Management.
Professional Liability (Errors and Omissions Liability. The policy shall cover professional misconduct or lack of ordinary skill for those positions defined in the Scope of Services of this contract. Each Claim/Aggregate $1,000,000 Annual Aggregate $2,000,000
a. In the event that the professional liability insurance required by this Contract is written on a claims-made basis, Contractor warrants that any retroactive date under the policy shall precede the effective date of this Contract; and that continuous coverage will be maintained for a period of two (2) years beginning at the time work under this Contract is completed.
Professional Liability (Errors and Omissions Liability. Each Claim $1,000,000 Annual Aggregate $2,000,000 $0 to $5,000,000 $1,000,000 Each Occurrence; $2,000,000 Aggregate $5,000,001 to $15,000,000 $5,000,000 Each Occurrence; $5,000,000 Aggregate $15,000,001 to $50,000,000 $5,000,000 Each Occurrence; $10,000,000 Aggregate $50,000,001 & up $25,000,000 Each Occurrence; $25,000,000 Aggregate
a. The Consultant shall be responsible for monitoring the Contract value as it increases and the Consultant shall be responsible for purchasing additional insurance to be in compliance with this Contract should the increased value of the Contract require a higher limit of insurance. The Consultant shall provide a new certificate of insurance that reflects the increase in limits as required in 4.20(E) below.
b. In the event that the professional liability insurance required by this Contract is written on a claims-made basis, the Consultant warrants that any retroactive date under the policy shall precede the effective date of this Contract; and that either continuous coverage will be maintained or an extended discovery period will be exercised for a period of three (3) years beginning at the time work under this Contract is completed.
c. The policy shall cover professional misconduct or negligent acts for those positions defined in the Scope of Work (APPENDIX A) of this Contract.
d. Consultant is required to carry professional liability insurance regardless of the type of contract or the scope of work and it shall not be waived without prior approval from Risk Management.
Professional Liability (Errors and Omissions Liability. Each Claim $1,000,000 Annual Aggregate $2,000,000
a. In the event that the professional liability insurance required by this Agreement is written on a claims-made basis, CoP warrants that any retroactive date under the policy shall precede the effective date of this Agreement; and that either continuous coverage will be maintained or an extended discovery period will be exercised for a period of two (2) years beginning at the time work under this Agreement is completed.
b. The policy shall cover professional misconduct or lack of ordinary skill for those positions defined in the Scope of Work of this Agreement.
Professional Liability (Errors and Omissions Liability. Each Claim $1,000,000 Annual Aggregate $2,000,000
a. The Consultant shall be responsible for monitoring the Contract value as it increases and the Consultant shall be responsible for purchasing additional insurance to be in compliance with this Contract should the increased value of the Contract require a higher limit of insurance. The Consultant shall provide a new certificate of insurance that reflects the increase in limits as required in 4.20(E) below.
b. In the event that the professional liability insurance required by this Contract is written on a claims-made basis, the Consultant warrants that any retroactive date under the policy shall precede the effective date of this Contract; and that either continuous coverage will be maintained or an extended discovery period will be exercised for a period of eight (8) years beginning at the time work under this Contract is completed.
c. The policy shall cover professional misconduct or negligent acts for those positions defined in the Scope of Work (APPENDIX A) of this Contract.
d. Consultant is required to carry professional liability insurance regardless of the type of contract or the scope of work and it shall not be waived without prior approval from Risk Management.
Professional Liability (Errors and Omissions Liability. Each Claim $ 500,000 Annual Aggregate $1,000,000
a. When using a contractor for professional services, the contractor shall provide professional liability insurance. In the event that the professional liability insurance is written on a claims- made basis, the contractor shall warrant that any retroactive date under the policy shall precede the effective date of the contract; and that either continuous coverage will be maintained or an extended discovery period will be exercised for a period of two (2) years beginning at the time work under this contract is completed.
b. The policy shall cover professional misconduct or lack of ordinary skill for those positions defined in the Scope of Work of the contract.
Professional Liability (Errors and Omissions Liability. Insurance policies shall have a limit of liability of no less than [***] per occurrence and in the aggregate and with a retroactive date no later than the commencement of the provision of the Services.
Professional Liability (Errors and Omissions Liability. Consultant shall maintain Professional Liability insurance covering negligent errors and omissions arising out of the Services performed by the Consultant, or anyone employed by. the Consultant, or anyone for whose negligent acts, mistakes, errors and omissions the Consultant is legally liable, with an unimpaired liability insurance limit of $1,000,000 each claim and $1,000,000 all claims. In the event the Professional Liability insurance policy is written on a "claims made" basis, Consultant warrants that any retroactive date under the policy shall precede the effective date of this Agreement; and that either continuous coverage will be maintained or an extended discovery period will be exercised for a period of three (3) years beginning at the time work under this Agreement is completed.
Professional Liability (Errors and Omissions Liability. Claims made policy form in the amount of no less than $500,000 Each Claim / Aggregate. Coverage must be maintained for a period of no less than 2 years after the term of this Contract.
Professional Liability (Errors and Omissions Liability. Basis Minimum Limits Each Claim $1,000,000 Annual Aggregate $2,000,000
a. In the event that the professional liability insurance required by this Agreement is written on a claims-made basis, the Qualified Vendor warrants that any retroactive date under the policy shall precede the effective date of this Agreement; and that either continuous coverage will be maintained or an extended discovery period will be exercised for a period of two (2) years beginning at the time work under this Agreement is completed.
b. The policy shall cover professional misconduct or wrongful acts for those positions defined in the Scope of Work of this Agreement.