Common use of PROFESSIONAL INDEMNITY COVER Clause in Contracts

PROFESSIONAL INDEMNITY COVER. 7.1 Without prejudice to its other obligations and liabilities under this Agreement, the Consultant shall maintain professional indemnity cover with reputable insurers based in the UK, without unusually onerous conditions and with a limit of indemnity of not less than the amount specified in Schedule 1 for [any one claim] for a period from the commencement of its obligations hereunder to the expiry of a period of 12 years from the date of practical completion of the Project or earlier abandonment thereof or earlier termination of the Consultant’s engagement or of this Agreement provided that such insurance remains available at commercially reasonable rates. The insurance shall cover claims arising out of the performance of the Services.

PROFESSIONAL INDEMNITY COVER. 7.1 Without prejudice to its other obligations and liabilities under this Agreement, the Consultant shall maintain professional indemnity cover with reputable insurers based in the UK, UK without any unusually onerous conditions and with a limit of indemnity of not less than the amount specified in Schedule 1 for [any one claim] each and every claim(5) for a period from the commencement of its obligations hereunder to the expiry of a period of 12 years from the date of practical completion of the Project or earlier abandonment thereof or earlier termination of the Consultant’s engagement or of this Agreement provided that such insurance remains available at commercially reasonable rates. The insurance shall cover claims arising out of the performance of the Services.