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.
Appears in 6 contracts
Samples: Producer Agreement, Producer Agreement, Producer Agreement
