ERRORS AND OMISSIONS / WORKERS COMP Sample Clauses
The "Errors and Omissions / Workers Comp" clause serves to address liability and insurance requirements related to mistakes, oversights, and workplace injuries. It typically requires the party providing services to maintain errors and omissions (E&O) insurance to cover professional mistakes, as well as workers' compensation insurance to protect employees in case of job-related injuries. This clause ensures that both parties are protected from financial loss due to professional errors or employee injuries, thereby allocating risk and promoting responsible business practices.
ERRORS AND OMISSIONS / WORKERS COMP. 8.1.1 The Professional shall purchase and maintain with a company, or companies, licensed to do business in the State of Mississippi such insurance as will provide protection from claims resulting from errors and omissions, or negligent acts arising out of the performance of professional services and operations under this Agreement.
ERRORS AND OMISSIONS / WORKERS COMP. 8.1.1 The Professional shall purchase and maintain with a company, or companies, licensed to do business in the State of Mississippi such insurance as will provide protection from claims resulting from errors and omissions, or negligent acts arising out of the performance of professional services and operations under this Agreement.
8.1.2 The errors and omissions insurance required in Subparagraph 8.1.1 shall be written for not less than: Total Project Funds (Amount Listed on Page One) Minimum Limit of Insurance $ 0 - $ 999,999 $ 250,000.00 $ 1,000,000 - $ 7,499,999 $ 500,000.00 $ 7,500,000 - $ 14,999,999 $ 750,000.00 $ 15,000,000 - Up $ 1,000,000.00
8.1.3 If by the terms of this insurance any mandatory deductibles are required, or if the Professional should elect with the concurrence of the Owner, to increase the mandatory deductible amounts or purchase this insurance with voluntary deductible amounts, the Professional shall be responsible for payment of the amount of the deductible in the event a claim is paid. In the event of a claim against the policy, the Professional shall arrange for the restoration of the limit of liability so that full coverage is maintained at all times.
8.1.4 The Professional shall be fully responsible to the Owner for work performed by any Associates and/or Consultants. Errors and omissions insurance coverage for the total Project design, including that of all Associates and/or Consultants, rests solely with the Professional. In the case of joint ventures, joint venture errors and omissions insurance coverage shall be required in accordance with the limits stated in Subparagraph 8.1.2.
ERRORS AND OMISSIONS / WORKERS COMP. 8.1.1 The Commissioning Authority Professional shall purchase and maintain with a company, or companies, licensed to do business in the State of Mississippi, such insurance as will provide protection from claims resulting from errors and omissions, or negligent acts arising out of the performance of professional services and operations under this Agreement.
8.1.2 The errors and omissions insurance required in Subparagraph 8.1.1 shall be written for not less than: Total Project Funds (Amount Listed on Page One) Minimum Limit of Insurance $ 0 - $ 999,999 $ 0 $ 1,000,000 - $ 7,499,999 $ 250,000 $ 7,500,000 - $ 14,999,999 $ 500,000 $ 15,000,000 - Up $ 1,000,000
8.1.3 If by the terms of this insurance any mandatory deductibles are required, or if the Commissioning Authority Professional should elect with the written concurrence of the Owner, to increase the mandatory deductible amounts or purchase this insurance with voluntary deductible amounts, the Commissioning Authority Professional shall be responsible for payment of the amount of the deductible in the event a claim is paid. In the event of a claim against the policy, the Commissioning Authority Professional shall arrange for the restoration of the limit of liability so that full coverage is maintained at all times.
8.1.4 The Commissioning Authority Professional shall be fully responsible to the Owner for work performed by Associates and/or Consultants. In the case of joint ventures, joint venture errors and omissions insurance coverage shall be required in accordance with the limits stated in Subparagraph 8.1.2.