Errors & Omissions Insurance. The Producer shall maintain in full force and effect during the term of this Agreement a policy or policies of errors and omissions (“E&O”) insurance issued by an insurer acceptable to Coastal, and affording coverage in the minimum amount of $1,000,000 for acts of the Producer, its subagents and employees. Such E&O insurance shall be maintained by the Producer at the Producer’s sole cost and expense, and shall be primary and non-contributing coverage over any other valid and collectible insurance available to Coastal. The Producer shall furnish a copy of the certificate or binder for such insurance to Coastal each year as soon as practicable after the effective date. The Producer consents in advance to the immediate termination of this Agreement in the event of the cancellation or non-renewal of such errors and omissions insurance policy.
Errors & Omissions Insurance. For the full term of this Agreement and for a period of three (3) years thereafter, CONSULTANT shall procure and maintain Errors and Omissions Liability Insurance appropriate to CONSULTANT’s profession. Such coverage shall have minimum limits of no less than One Million Dollars ($1,000,000.00) per occurrence and shall be endorsed to include contractual liability.
Errors & Omissions Insurance. The Errors and Omissions Insurance carrier shall be chosen at Broker's discretion. Contractor understands that he/she is responsible for payment of the deductible amount (currently $5,000.00) upon request, for each Errors and Omissions claim. Contractor shall immediately notify Broker of any circumstances likely to give rise to any kind of claim or complaint against Contractor and/or Broker. In the event of a claim, lawsuit, license complaint or Arbitration demand which is not wholly covered by insurance, Broker may withhold from Contractor's commissions payable, an amount adequate to satisfy any amounts not covered, which Broker shall place in its Claims and Disputes Retention Account, pending settlement or other disposition of the matter. Broker may, in Broker's sole discretion, apply such sums as necessary to settle or to satisfy any such claim or award, and Contractor agrees to cooperate fully in this regard. Contractor understands that, from time to time, the Principals of Broker may deem it necessary to obtain legal consultation concerning one of Contractors transactions, Contractor agrees to reimburse and indemnify Broker for any Attorney's fee reasonably incurred by Broker to obtain legal advice concerning such transactions(s).
Errors & Omissions Insurance. Consultant shall maintain professional liability insurance in the amount of not less than $2,000,000 per claim. Consultant shall keep in force the professional liability policy for at least 24 months after the expiration of the Agreement with City. In any case, Consultant shall notify City in the event of a cancellation or reduction in limits. Unless such cancellation or reduction is immediately cured by Consultant, such cancellation or reduction constitutes a breach of this Agreement.
Errors & Omissions Insurance. Company shall add Lender and Director as additional insureds under Company's errors and omissions and general liability policies in connection with the Picture, if any, subject to the terms and conditions of said policy, including any deductible or policy limits; provided, however, the inclusion of Lender and Director on said policy will relieve neither Lender nor Director from his representations, warranties and indemnities contained herein.
Errors & Omissions Insurance. With respect to the Investment Services provided by the Contractor hereunder, Investment Advisors' Errors & Omissions insurance coverage, provided by an insurance carrier with an AM Best's rating of A- or better unless otherwise approved by the Board, shall be maintained by the Contractor in the amount of not less than ten million dollars ($10,000,000.00). The Contractor agrees to maintain Errors & Omissions insurance coverage in accordance with this Section 12.10(a)(i) for at least five years beyond the termination of this Agreement.
Errors & Omissions Insurance. If IC secures their own E & O insurance policy, has named ITH as a Certificate Holder in their E &O coverage, and provides ITH with a copy of the IC insurance policy reflecting that ITH is listed and covered by their policy, ITH will waive the $100 fee. Annual fee in the amount of $100.00 This annual fee will be due on the first anniversary sign-up date of the IC, unless IC has earned a minimum of $600 in commissions from previous year sales made through ITH’S program, in which case the annual fee will be waived.
Errors & Omissions Insurance. The Company shall have purchased the E&O Tail.
Errors & Omissions Insurance. Producer agrees to carry and maintain in full force and effect at all times during the terms of this Agreement errors and omissions insurance coverage having minimum limits of $1,000,000. Producer agrees to provide evidence of this coverage upon request by RPS.
Errors & Omissions Insurance. Agency shall maintain Errors & Omissions coverage with a carrier having an A.M. Best rating of not less than A- or captive approved by Insurer with a minimum $1,000,000.00 per occurrence and $2,000,000.00 aggregate. The Errors & Omissions policy shall provide for coverage for duties and responsibilities set forth in this Agreement. If the aforementioned policy is written on a claims-made basis, the retroactive date of the policy, if any, shall precede or be concurrent with any prior periods in which Agency had an in-force Agreement with Insurer.
