Common use of Professional and General Liability Insurance of Practice Clause in Contracts

Professional and General Liability Insurance of Practice. Business Manager shall obtain and maintain, on behalf of Practice and as an Office Expense, professional and comprehensive general liability insurance covering Practice and each of Physicians and Optometrists. The comprehensive general liability coverage shall be in the minimum amount of one million dollars ($1,000,000) for each occurrence and two million dollars ($2,000,000) annual aggregate; and professional liability coverage shall be in the minimum amount of one million dollars ($1,000,000) for each occurrence and three million dollars ($3,000,000) annual aggregate, or any other higher minimum coverage requirements established by law. The insurance policy or policies shall provide for at least (30) days' advance written notice to Business Manager and Practice from the insurer as to any alteration of coverage, cancellation or proposed cancellation for any cause. Business Manager shall cause to be issued to Practice a certificate of such insurer or insurers reflecting such coverage and either party hereunder shall provide written notice to the other party promptly upon receipt of any notice canceling or proposing to cancel the insurance coverage of Practice, or any Physician or Optometrist for any reason. Upon the termination of this Management Services Agreement for any reason, Practice shall obtain and maintain as a Practice Expense "tail" professional liability coverage, in the amounts specified in this Section 4.14(b) for an extended reporting period of ten years, and Practice shall be responsible for paying all premiums for "tail" insurance coverage.

Professional and General Liability Insurance of Practice. Business Manager shall obtain and maintain, on behalf of Practice and as an Office Expense, professional and comprehensive general liability insurance covering Practice and each of Physicians and Optometrists. The comprehensive general liability coverage shall be in the minimum amount of one million One Million dollars ($1,000,000) for each occurrence and two million Two Million dollars ($2,000,000) annual aggregate; and professional liability coverage shall be in the minimum amount of one million Two Million dollars ($1,000,0002,000,000) for each occurrence and three million Four Million dollars ($3,000,0004,000,000) annual aggregate, or any other higher minimum coverage requirements established by law. The insurance policy or policies shall provide for at least (30) days' advance written notice to Business Manager and Practice from the insurer as to any alteration of coverage, cancellation or proposed cancellation for any cause. Business Manager shall cause to be issued to Practice a certificate of such insurer or insurers reflecting such coverage and either party hereunder shall provide written notice to the other party promptly upon receipt of any notice canceling or proposing to cancel the insurance coverage of Practice, or any Physician or Optometrist for any reason. Upon the termination of this Management Services Agreement for any reason, Practice shall obtain and maintain as a Practice Expense "tail" professional liability coverage, in the amounts specified in this Section 4.14(b) for an extended reporting period of ten years, and Practice shall be responsible for paying all premiums for "tail" insurance coverage.

Professional and General Liability Insurance of Practice. Business Manager shall obtain and maintain, on behalf of Practice and as an Office Expense, professional and comprehensive general liability insurance covering Practice and each of Physicians and Optometrists. The comprehensive general liability coverage shall be in the minimum amount of one million dollars ($1,000,000) for each occurrence and two million dollars ($2,000,000) annual aggregate; and professional liability coverage shall be in the minimum amount of one million dollars ($1,000,000) for each occurrence and three million dollars ($3,000,000) annual aggregate, or any other higher minimum coverage requirements established by law. The insurance policy or policies shall provide for at least (30) days' advance written notice to Business Manager and Practice from the insurer as to any alteration of coverage, cancellation or proposed cancellation for any cause. Business Manager shall cause to be issued to Practice a certificate of such insurer or insurers reflecting such coverage and either party hereunder shall provide written notice to the other party promptly upon receipt of any notice canceling or proposing to cancel the insurance coverage of Practice, or any Physician or Optometrist for any reason. Upon the termination of this Management Services Agreement for any reason, Practice shall obtain and maintain as a Practice Expense "tail" professional liability coverage, in the amounts specified in this Section 4.14(b) for an extended reporting period of ten two years, and Practice shall be responsible for paying all premiums for "tail" insurance coverage.

Professional and General Liability Insurance of Practice. Business Manager shall obtain and maintain, on behalf of Practice and as an Office Expense, professional and comprehensive general liability insurance covering Practice and each of Physicians and Optometrists. The comprehensive general liability coverage shall be in the minimum amount of one million One Million dollars ($1,000,000) for each occurrence and two million Two Million dollars ($2,000,000) annual aggregate; and professional liability coverage shall be in the minimum amount of one million One Hundred Thousand dollars ($1,000,000100,000) for each occurrence and three million Three Hundred Thousand dollars ($3,000,000300,000) annual aggregate, or any other higher minimum coverage requirements established by law. The insurance policy or policies shall provide for at least (30) days' advance written notice to Business Manager and Practice from the insurer as to any alteration of coverage, cancellation or proposed cancellation for any cause. Business Manager shall cause to be issued to Practice a certificate of such insurer or insurers reflecting such coverage and either party hereunder shall provide written notice to the other party promptly upon receipt of any notice canceling or proposing to cancel the insurance coverage of Practice, or any Physician or Optometrist for any reason. Upon the termination of this Management Services Agreement for any reason, Practice shall obtain and maintain as a Practice Expense "tail" professional liability coverage, in the amounts specified in this Section 4.14(b) for an extended reporting period of ten years, and Practice shall be responsible for paying all premiums for "tail" insurance coverage.

Professional and General Liability Insurance of Practice. Business Manager shall obtain and maintain, on behalf of Practice and as an Office Expense, professional and comprehensive general liability insurance covering Practice and each of Physicians and Optometrists. The comprehensive general liability coverage shall be in the minimum amount of one million dollars One Million Dollars ($1,000,000) for each occurrence and two million dollars Two Million Dollars ($2,000,000) annual aggregate; and professional liability coverage shall be in the minimum amount of one million dollars One Million Dollars ($1,000,000) for each occurrence and three million dollars Three Million Dollars ($3,000,000) annual aggregate, or any other higher minimum coverage requirements established by law. The insurance policy or policies shall provide for at least (30) days' advance written notice to Business Manager and Practice from the insurer as to any alteration of coverage, cancellation or proposed cancellation for any cause. Business Manager shall cause to be issued to Practice a certificate of such insurer or insurers reflecting such coverage and either party hereunder shall provide written notice to the other party promptly upon receipt of any notice canceling or proposing to cancel the insurance coverage of Practice, or any Physician or Optometrist for any reason. Upon the termination of this Management Services Agreement for any reason, Practice shall obtain and maintain as a Practice Expense "tail" professional liability coverage, in the amounts specified in this Section 4.14(b) for an extended reporting period of ten years, and Practice shall be responsible for paying all premiums for "tail" insurance coverage.