Errors & Omissions Liability Insurance Clause Samples
The Errors & Omissions Liability Insurance clause requires a party, typically a service provider or contractor, to maintain insurance coverage that protects against claims arising from professional mistakes, negligence, or failures to perform duties. This insurance covers legal costs and damages if the insured party is sued for errors or omissions in their work, such as providing incorrect advice or failing to deliver agreed-upon services. The core function of this clause is to allocate risk and ensure that financial responsibility for professional errors does not fall solely on the client, thereby providing reassurance and protection for both parties involved in the contract.
Errors & Omissions Liability Insurance. Supplier will maintain Errors and Omissions Liability Insurance in an amount not less than $1,000,000 for each claim and in the aggregate and extended to cover resulting bodily injury and property damage. Such insurance must provide (a) a retroactive date of not later than the effective date of this Agreement and (b) either be maintained for or have an extended claims reporting period of not less than two (2) years after completion of the end of the Term.
Errors & Omissions Liability Insurance. Policy limits of not less than One Million Dollars ($1,000,000.00) each claim. Throughout the term of this Agreement, the Errors & Omissions Liability Insurance retroactive coverage date will be no later than the Effective Date of this Agreement ("Effective Date" is defined in Section 10.1 below). Upon expiration or termination of this Agreement, ATA will either (i) continue to maintain such coverage for a period of at least one (1) year following the termination of this Agreement; (ii) maintain for at least one (1) year full replacement coverage that also complies with the requirements of this Section 9.1(e); or (iii) maintain, upon terms consistent with all other pertinent terms of the policy then in force, an extended reporting period ending not less than one year following termination of this Agreement ("Extended Reporting Period"), and providing that claims first made and reported to the insurance company within said Extended Reporting Period will be deemed to have been made during the policy period.
Errors & Omissions Liability Insurance. If the Services require Supplier to test, analyze or monitor for pollution conditions, Supplier will maintain Errors & Omissions liability insurance covering acts, errors and omissions arising out of Supplier’s operations or services, with limits of not less than $1,000,000 per occurrence, and including coverage for contractual liability with respect to liability assumed by Supplier hereunder. Such insurance will provide a retroactive date prior to the start of Services under the Order and an extended reporting period of not less than 3 years after expiration or termination of the Order.
Errors & Omissions Liability Insurance. In order to fulfill standard television licensing requirements with its licensees, Distributor shall add the Program Program Title Series Title (if any) Running Time (Year of Production)