Common use of Insurance; Malpractice Clause in Contracts

Insurance; Malpractice. Section 3(j) of the Disclosure Schedule contains a list and brief description of all policies or binders of fire, liability, product liability, workers compensation, health and other forms of insurance policies or binders currently in force insuring against risks which will remain in full force and effect at least through the Closing Date. Section 3(j) of the Disclosure Schedule contains a description of all current malpractice liability insurance policies of OSMC Stockholders, OSMC and OSMC's professional employees and all predecessor policies in effect since February 1, 1990. Neither OSMC, the OSMC Stockholders, nor OSMC's professional employees have, in the last seven (7) years, filed a written application for any insurance coverage relating to OSMC's business or property which has been denied by an insurance agency or carrier. OSMC, OSMC's professional employees and the OSMC Stockholders have been continuously insured for professional malpractice claims during the same period. Section 3(j) of the Disclosure Schedule also sets forth a list of all claims for any insured loss in excess of Five Thousand Dollars ($5,000.00) per occurrence filed by or against OSMC, OSMC's professional employees or the OSMC Stockholders during the three (3) year period immediately preceding the date hereof, including workers compensation, general liability, environmental liability and professional malpractice liability claims. None of OSMC, OSMC's professional employees or the OSMC Stockholders is in material default with respect to any provision contained in any such policy and none of them has failed to give any notice or present any claim under any such policy in due and timely fashion.

Insurance; Malpractice. Section 3(j) of the Disclosure Schedule contains a list and brief description of all policies or binders of fire, liability, product liability, workers compensation, health and other forms of insurance policies or binders currently in force insuring against risks which will remain in full force and effect at least through the Closing Date. Section 3(j) of the Disclosure Schedule contains a description of all current malpractice liability insurance policies of OSMC OSL Stockholders, OSMC OSL and OSMCOSL's professional employees and all predecessor policies in effect since February 1, 1990. Neither OSMCOSL, the OSMC OSL Stockholders, nor OSMCOSL's professional employees have, in the last seven (7) years, filed a written application for any insurance coverage relating to OSMCOSL's business or property which has been denied by an insurance agency or carrier. OSMCOSL, OSMCOSL's professional employees and the OSMC OSL Stockholders have been continuously insured for professional malpractice claims during the same period. Section 3(j) of the Disclosure Schedule also sets forth a list of all claims for any insured loss in excess of Five Thousand Dollars ($5,000.00) per occurrence filed by or against OSMCOSL, OSMCOSL's professional employees or the OSMC OSL Stockholders during the three (3) year period immediately preceding the date hereof, including workers compensation, general liability, environmental liability and professional malpractice liability claims. None of OSMCOSL, OSMCOSL's professional employees or the OSMC OSL Stockholders is in material default with respect to any provision contained in any such policy and none of them has failed to give any notice or present any claim under any such policy in due and timely fashion.