Architect/Engineers Professional Liability Insurance Sample Clauses
The Architect/Engineers Professional Liability Insurance clause requires architects and engineers involved in a project to maintain insurance coverage that protects against claims arising from professional errors, omissions, or negligence. This insurance typically covers legal costs and damages if the design professional is found liable for mistakes in their work, such as faulty plans or failure to meet industry standards. By mandating this coverage, the clause ensures that financial responsibility for professional mistakes does not fall solely on the project owner, thereby allocating risk and providing a mechanism for compensation in the event of professional misconduct or oversight.
Architect/Engineers Professional Liability Insurance. 10.1.4.1. Architect/Engineers professional liability/errors & omissions coverage with a minimum limit of $1,000,000.00 per claim and in the aggregate to pay on behalf of the insured all sums which the insured shall become legally obligated to pay as damages by reason of any negligent act, error, or omission committed with respect to plans, maps, drawings, analysis, reports, surveys, change orders, designs, or specifications prepared by the insured.
10.1.4.2. PSP shall maintain this coverage for the duration of this Agreement or for a period of not less than twenty-four (24) months following completion of the Project, whichever is longer.
Architect/Engineers Professional Liability Insurance. 10.2.4.1. Architect/Engineers professional liability/errors and omissions coverage with a minimum limit of $1,000,000 per claim and in the aggregate to pay on behalf of the insured all sums which the insured shall become legally obligated to pay as damages by reason of any negligent act, error, or omission committed with respect to plans, maps, drawings, analysis, reports, surveys, change orders, designs, or specifications prepared by the insured.
10.2.4.2. A/E shall maintain this coverage for the duration of this Agreement or for not less than twenty-four (24) months following completion of the Project, whichever is longer.
10.2.4.3. The policy shall be endorsed to include 30 Day Notice of Cancellation, 10 Days for Non-Payment of Premium, in favor of TFC.
Architect/Engineers Professional Liability Insurance. Professional liability coverage shall insure from and against all negligent acts, errors, and omissions committed by A/E, its employees, and Consultants, that arise out of this Agreement or the Professional Services performed by A/E, including its vicarious liability. Any retroactive date must be effective prior to beginning of services for TFC. The purchase of an extended discovery period or an extended reporting period on a claims-made policy will not be sufficient to meet the terms of this provision. A/E and its Consultants shall keep such insurance in force at all times during the course of this Agreement and until all claims arising out of the Professional Services are barred by the statute of repose provided under Texas law.
Architect/Engineers Professional Liability Insurance. Professional liability coverage shall insure from and against all negligent acts, errors, and omissions committed by A/E, its employees, and Consultants, that arise out of this Agreement or the Professional Services performed by A/E, including its vicarious liability. Any retroactive date must be effective prior to beginning of services for TFC. The purchase of an extended discovery period or an extended reporting period on a claims-made policy will not be sufficient to meet the terms of this provision. A/E and its Consultants shall keep such insurance in force at all times during the course of this DocuSign Envelope ID: E5869DD1-48AE-4FCC-A646-87589A40EB45 Agreement and until all claims arising out of the Professional Services are barred by the statute of repose provided under Texas law.