PROFESSIONAL LIABILITY INSURANCE (ERRORS & OMISSIONS). (a) Contractor and subcontractor whose contracts require design services will maintain professional liability insurance providing coverage for claims allegedly arising out of errors, omissions or negligent acts due to their performance, or failure to perform, design, architectural, engineering, land surveying or interior design services. (b) With limits of liability of at least Five Million Dollars ($5,000,000) each claim and annual aggregate with a deductible no greater than $250,000. (c) If the policy is a “claims made” form, coverage will be maintained for four years after completion of the Work.
Appears in 2 contracts
Sources: Engineering, Procurement and Construction Agreement, Engineering, Procurement and Construction Agreement (Global Energy, Inc.)