Errors and Omissions Liability Coverage Clause Samples

Errors and Omissions Liability Coverage. A. Errors and Omissions Liability Coverage Subject to all applicable limits of liability, deductibles, retentions, terms, conditions and exclusions, WSRMP will pay those damages which the District shall become legally obligated to pay as a result of wrongful acts as defined herein, occurring during the term of this Agreement, whether the District’s obligation to pay damages is based on direct liability or vicarious liability. WSRMP will have the right and duty to defend the District against any suit seeking damages as set forth herein. This coverage includes, but is not limited to, payment of damages resulting from the District’s liability for: 1. wrongful acts arising out of sexual abuse by any District employees or volunteers, or sexual abuse by a student(s) against another student(s); 2. wrongful acts of District employees (other than medical doctors) rendering professional health care services. B. Defense, Settlement, and Supplementary Payments In the event of suit against the District alleging liability covered by Article IV of this Agreement, WSRMP shall: 1. pay all contributions on bonds to release attachment for an amount not in excess of the applicable limits of liability of this Agreement, all contributions on appeal bonds required in any such defended suit and the cost of bail bonds required of the District in the event of a wrongful act during the coverage period with respect to which coverage is afforded under this Agreement (not to exceed the sum of $250 per bail bond), but without an obligation to apply for or furnish any such bonds. 2. pay all expenses incurred by WSRMP, all costs other than attorneys' fees or costs incurred by an adverse party in a claim or suit covered hereunder which may be taxed against the District in any such suit and all interest accrued after the entry of judgment, which expenses, costs and interest shall be included in and shall not expand the limits of liability. 3. reimburse the District for all reasonable expenses, other than loss of earnings and personnel expense, incurred at WSRMP's request. 4. have the right to select counsel to defend any suit brought against the District and covered by this Article. 5. pay the cost of defense, but not any settlement or judgment, in the event of any suit filed against the District for punitive damages. 6. at its own discretion, after notice to the District, compromise or settle any suit or claim at such time WSRMP determines that settlement or compromise will be more economi...

Errors and Omissions Liability Coverage. As a condition precedent and an ongoing obligation throughout the Term of this Agreement, Producer shall, prior to or contemporaneously with the execution of this Agreement, provide Orchid with certificates of insurance demonstrating the existence of the following insurance coverage for services performed pursuant to this Agreement, from an insurance carrier acceptable to Orchid and having an A.M. Best Rating of A- or greater: Errors and omissions for the services performed pursuant to this Agreement in an amount of at least $1,000,000 per claim and $1,000,000 in the aggregate and a deductible or self- insured retention of no greater than $50,000. Producer shall maintain errors and omissions coverage and provide proof of continuing insurance upon request by Orchid. Producer shall promptly notify Orchid of any claims made against Producer relating to such coverage. Producer further warrants that their Errors and Omissions policy does not exclude coverage for fiduciary responsibility with a limit no less than $1,000,000. As an alternative, a separate Crime policy must be maintained with a limit no less than $1,000,000.