Common use of Errors and Omissions Insurance Policy Clause in Contracts

Errors and Omissions Insurance Policy. Health Dialog Services Corporation, a Delaware corporation and a wholly owned subsidiary of Indemnitor (the “Named Insured”), shall maintain at its (or an Affiliate’s) own expense, and keep in full force and effect during the term of this Agreement, a blanket fidelity bond and an errors and omissions insurance policy (from an insurance company that has a claim paying ability (or the obligations which are guaranteed or backed by a company having such claims paying ability)) covering Seller’s directors, officers and employees in connection with Seller’s activities under this Agreement. Such insurance policy shall protect Seller against losses resulting directly from forgery, theft, embezzlement, fraud, errors and omissions of such covered persons. In the event that any such bond or policy ceases to be in effect, the Named Insured (or an Affiliate thereof) shall obtain a comparable (in all material respects) replacement bond or policy.

Errors and Omissions Insurance Policy. Health Dialog Services Corporation, a Delaware corporation and a wholly owned subsidiary of Indemnitor (the “Named Insured”), shall maintain at its (or an Affiliate’s) own expense, and keep in full force and effect during the term of this Agreement, a blanket fidelity bond and an errors and omissions insurance policy (from an insurance company that has a claim paying ability (or the obligations which are guaranteed or backed by a company having such claims paying ability)) covering Seller’s directors, officers and employees in connection with Seller’s activities under this Agreement. Such insurance policy shall protect Seller against losses resulting directly from forgery, theft, embezzlement, fraud, errors and omissions of such covered persons. In the event that any such bond or policy ceases to be in effect, the Named Insured (or an Affiliate thereof) shall obtain a comparable (in all material respects) replacement bond or policy.