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 any unusually onerous conditions and with a limit of indemnity of not less than the amount specified in Schedule 1 for 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. 7.2 The Consultant shall produce to the Client or the Project Manager upon written request satisfactory evidence of the insurance arrangements identified in this clause 7 within 5 days of being so required and the Consultant shall notify the Client and the Project Manager in writing immediately if it ceases for any reason to have the cover identified. If the Consultant is in breach of any of its obligations under this clause 7 the Client may take out insurance to cover some or all of the loss or damage which might result from a breach of this Agreement by the Consultant and the Client may deduct from any sums due to the Consultant or otherwise recover from the Consultant the costs and expenses incurred.

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 each and every claim(5) [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. 7.2 The Consultant shall produce to the Client or the Project Manager upon written request satisfactory evidence of the insurance arrangements identified in this clause 7 within 5 7 days of being so required and the Consultant shall notify the Client and the Project Manager in writing immediately if it ceases for any reason to have the cover identified. If the Consultant is in breach of any of its obligations under this clause 7 the Client may take out insurance to cover some or all of the loss or damage which might result from a breach of this Agreement by the Consultant and the Client may deduct from any sums due to the Consultant or otherwise recover from the Consultant the costs and expenses incurred.