Common use of Professional Indemnity Insurance Clause in Contracts

Professional Indemnity Insurance. Without prejudice to its obligations under this Agreement, or otherwise at law, the Independent Tester shall maintain professional indemnity insurance with a limit of indemnity of not less than [ten million pounds (£10,000,000)]16 for any one claim in respect of any neglect, error or omission on the Independent Tester’s part in the performance of its obligations under this Agreement for the period commencing on the date of this Agreement and expiring 12 years after: the date of final certification of the Works; or the termination of this Agreement, whichever is the earlier, provided that such insurance is available in the market place at commercially reasonable rates. The Independent Tester shall maintain such insurance with reputable insurers carrying on business in the United Kingdom. Any increased or additional premium required by insurers by reason of the Independent Tester's own claims record or other acts, omissions, matters or things particular to the Independent Tester shall be deemed to be within commercially reasonable rates. The Independent Tester shall as soon as reasonably practicable inform Project Co and the Authority if such insurance ceases to be available at commercially reasonable rates in order that the Independent Tester and Project Co and the Authority can discuss means of best protecting the respective positions of Project Co and the Authority and the Independent Tester in respect of the Project in the absence of such insurance. The Independent Tester shall fully co-operate with any measures reasonably required by Project Co and the Authority including (without limitation) completing any proposals for insurance and associated documents, maintaining such insurance at rates above commercially reasonable rates if Project Co and the Authority undertake in writing to reimburse the Independent Tester in respect of the net cost of such insurance to the Independent Tester above commercially reasonable rates. The Independent Tester shall, prior to commencing the provision of the Services and as soon as reasonably practicable following renewal dates, produce for inspection by Project Co and the Authority documentary evidence that such insurance is being properly maintained. The above obligations in respect of professional indemnity insurance shall continue notwithstanding termination of this Agreement for any reason whatsoever, including (without limitation) breach by Project Co and the Authority.

Professional Indemnity Insurance. Without prejudice to its obligations under this Agreement, or otherwise at law, the Independent Tester shall maintain professional indemnity insurance with a limit of indemnity of not less than [ten million pounds (£10,000,000)]16 10,000,000)]19 for any one claim in respect of any neglect, error or omission on the Independent Tester’s part in the performance of its obligations under this Agreement for the period commencing on the date of this Agreement and expiring 12 years after: the date of final certification completion of the WorksServices and the Varied Services under this Agreement ; or the termination of this Agreement, whichever is the earlier, provided that such insurance is available in the market place at commercially reasonable rates. The Independent Tester shall maintain such insurance with reputable insurers carrying on business in the United Kingdom. Any increased or additional premium required by insurers by reason of the Independent Tester's own claims record or other acts, omissions, matters or things particular to the Independent Tester shall be deemed to be within commercially reasonable rates. The Independent Tester shall as soon as reasonably practicable inform Project DBFM Co and the Authority if such insurance ceases to be available at commercially reasonable rates in order that the Independent Tester and Project DBFM Co and the Authority can discuss means of best protecting the respective positions of Project DBFM Co and the Authority and the Independent Tester in respect of the Project in the absence of such insurance. The Independent Tester shall fully co-operate with any measures reasonably required by Project DBFM Co and the Authority including (without limitation) completing any proposals for insurance and associated documents, maintaining such insurance at rates above commercially reasonable rates if Project DBFM Co and the Authority undertake in writing to reimburse the Independent Tester in respect of the net cost of such insurance to the Independent Tester above commercially reasonable rates. The Independent Tester shall, prior to commencing the provision of the Services and as soon as reasonably practicable following renewal dates, produce for inspection by Project DBFM Co and the Authority documentary evidence that such insurance is being properly maintained. The above obligations in respect of professional indemnity insurance shall continue notwithstanding termination of this Agreement for any reason whatsoever, including (without limitation) breach by Project DBFM Co and the Authority.

Professional Indemnity Insurance. Without prejudice to its obligations under this Agreement, or otherwise at lawBefore appointment, the Independent Tester shall maintain successful applicant will be required: To produce evidence from their Broker or Insurance Company confirming that the applicant has current professional indemnity insurance cover in the required amount complying with a limit the conditions listed below and that it will be maintained for 6 years after completion of indemnity the construction works in respect of the services provided – Model Form MF 2.1 (Capital Works Management Framework website) duly completed by the Applicant’s broker or insurance company is deemed acceptable evidence for this criterion (or if for any valid reason this evidence cannot be provided then alternative evidence which is acceptable and considered appropriate by the Contracting Authority may be provided). Cover of not less than [ten million pounds (£10,000,000)]16 the following: Type 2a Projects €750,000 Type 2b projects €1,500,000 Type 3 projects €3,000,000 The Maximum permitted excess is 1.5% of Turnover; Cover is provided for legal defence costs in excess of the minimum level of cover; Cover must be provided on an ‘each and every’ claim basis; The conditions must provide for claims for breach of professional duty or civil liability as well as negligence; Cover must extend to include specialist advisers engaged as service providers by the applicant and any one claim claims arising out of the sub-contracting of professional services by the Applicant; Cover must be provided in respect of any neglect, error Joint & Several liability where the service provider is operating in a Joint Venture or omission on a Consortium; and The jurisdiction in which claims can be lodged and settled is IRELAND. and to sign an undertaking that the Independent Tester’s part in the performance firm will maintain this Insurance for a period of its obligations under this Agreement for the period commencing on the date of this Agreement and expiring 12 six years after: the date of final certification after completion of the Works; or construction works in respect of the termination of this Agreement, whichever is the earlier, services provided that such insurance is available in the market place subject to cover being provided at commercially reasonable rates. The Independent Tester shall maintain such insurance with reputable insurers carrying on business in the United Kingdom. Any increased or additional premium required by insurers by reason of the Independent Tester's own claims record or other acts, omissions, matters or things particular to the Independent Tester shall be deemed to be within commercially reasonable rates. The Independent Tester shall as soon as reasonably practicable inform Project Co and the Authority if such insurance ceases to be available at commercially reasonable rates in order rates, that the Independent Tester and Project Co and firm will immediately so notify the Contracting Authority can discuss means of best protecting the respective positions of Project Co and the Authority and the Independent Tester in respect of the Project writing. If requested to do so, we will provide evidence (in the absence form stated above) within 5 working days confirming that we have current Professional Indemnity of such insurance. The Independent Tester shall fully co-operate not less than the sums stated above and in accordance with any measures reasonably required by Project Co and the Authority including (without limitation) completing any proposals for insurance and associated documents, maintaining such insurance at rates above commercially reasonable rates if Project Co and the Authority undertake in writing to reimburse the Independent Tester in respect of the net cost of such insurance to the Independent Tester above commercially reasonable rates. The Independent Tester shall, prior to commencing the provision of the Services and as soon as reasonably practicable following renewal dates, produce for inspection by Project Co and the Authority documentary evidence that such insurance is being properly maintained. The above obligations in respect of professional indemnity insurance shall continue notwithstanding termination of this Agreement for any reason whatsoever, including (without limitation) breach by Project Co and the Authorityconditions above.

Professional Indemnity Insurance. 7.1 Without prejudice to its other obligations under this Agreement, Deed or otherwise at law, the Independent Tester Certifier confirms that it has professional indemnity insurance and shall maintain professional indemnity insurance insurance, with reputable insurers or underwriters who are acceptable to the Counterparties (such acceptance not to be unreasonably withheld or delayed), from the commencement of the IC Services and for a period expiring no earlier than six (6) years after the completion of the IC Services and notwithstanding the termination for any reason, including (without limitation) breach by the Contractor or and Authority, of the Independent Certifier’s engagement under this Deed, without onerous conditions or unusual excesses to cover each and every claim. with a limit of indemnity of not less than [ten five million pounds (£10,000,000)]16 for any one claim 5,000,000 ) in respect of any neglect, error or omission on each and every claim (except that for claims relating to pollution and contamination the Independent Tester’s part limit of indemnity shall be in the performance of its obligations under this Agreement aggregate and for the period commencing on the date of this Agreement and expiring 12 years after: the date of final certification of the Works; claims relating to asbestos there shall be no cover). All claims arising directly or the termination of this Agreement, whichever is the earlierindirectly from one source or originating cause shall be treated for all purposes as a single claim, provided always that such insurance is continues to be available to it in the European Union insurance market place upon reasonable terms and at commercially reasonable rates. The Independent Tester shall maintain such insurance with reputable insurers carrying on business in premium rates and (for the United Kingdom. Any avoidance of doubt) provided further that payment of any increased or additional premium premiums required by insurers by reason of the Independent Tester's Certifier’s own claims record or other acts, omissions, acts omissions matters or things particular peculiar to the Independent Tester shall Certifier will be deemed to be within commercially reasonable rates. the Independent Certifier’s obligation. 7.2 The Independent Tester shall Certifier shall, as soon as reasonably practicable inform Project Co and the Authority if such insurance ceases to be available at commercially reasonable rates in order that the Independent Tester and Project Co and the Authority can discuss means of best protecting the respective positions of Project Co and the Authority and the Independent Tester in respect of the Project in the absence of such insurance. The Independent Tester shall fully co-operate with any measures when it is reasonably required to do so by Project Co any Counterparty and the Authority including (without limitation) completing in any proposals for insurance and associated documents, maintaining such insurance at rates above commercially reasonable rates if Project Co and the Authority undertake in writing to reimburse the Independent Tester in respect of the net cost of such insurance to the Independent Tester above commercially reasonable rates. The Independent Tester shall, event prior to commencing the provision of the IC Services and as soon as reasonably practicable following no less than ten (10) Working Days after each renewal datesdate, produce for inspection by Project Co and the Authority any Counterparty documentary evidence that such the insurance required by clause 7.1 is being properly maintained. maintained subject to the same not constituting a breach of the terms of such insurance. 7.3 The above obligations Independent Certifier shall forthwith notify the Counterparties if the insurance required by clause 7.1 ceases to be available upon reasonable terms and at commercially reasonable premium rates or if for any other reason the Independent Certifier is unable to continue to maintain such insurance and (in this event) shall continue to maintain insurance upon such terms and with such a limit of indemnity as may then be so available. 7.4 The Independent Certifier shall not compromise, settle or waive any claim which it may have under such insurance in respect of any professional indemnity insurance shall continue notwithstanding termination liability which it may incur under this Deed without the prior written consent of this Agreement for any reason whatsoever, including (without limitation) breach by Project Co and the AuthorityCounterparties.

Professional Indemnity Insurance. Without prejudice to its obligations under this Agreement, or otherwise at law, the Independent Tester The Consultant shall provide and maintain a professional indemnity insurance with a limit of indemnity of not less than [ten million pounds (£10,000,000)]16 for any one claim in respect of any neglect, error or omission on the Independent Tester’s part policy in the performance name of its obligations the Consultant indemnifying the Consultant in relation to all claims, liabilities, loss or damage however arising under this Agreement or out of the Services, except those solely attributable directly to KRFB. The said professional indemnity insurance policy shall be provided from the Commencement Date and be maintained for the period commencing on the date of this Agreement and expiring 12 years after: the date of final certification duration of the Works; Services, which shall include any delay, extension or the termination of variation thereto. Such professional indemnity insurance policy shall be provided with Indian insurer(s). All costs and expenses incurred, and which may be incurred, in providing this Agreement, whichever is the earlier, provided that such professional indemnity insurance is available in the market place at commercially reasonable rates. The Independent Tester shall maintain such insurance with reputable insurers carrying on business in the United Kingdom. Any increased or additional premium required by insurers by reason of the Independent Tester's own claims record or other acts, omissions, matters or things particular to the Independent Tester policy shall be deemed to be within commercially reasonable ratesincluded in the Monthly Agreement Price. The Independent Tester receipts for payment of all premiums shall as soon as reasonably practicable inform Project Co be submitted by the Consultant to KRFB in advance of the premium payment deadline. It is a precondition to the Agreement coming into effect that the professional indemnity insurance premiums are paid in advance and the Authority if such professional indemnity insurance ceases cover is to be available at commercially reasonable rates come in order that to force from the Independent Tester and Project Co and the Authority can discuss means of best protecting the respective positions of Project Co and the Authority and the Independent Tester in respect of the Project in the absence of such insuranceCommencement Date. The Independent Tester shall fully co-operate with any measures reasonably required by Project Co and the Authority including (without limitation) completing any proposals for insurance and associated documents, maintaining such insurance at rates above commercially reasonable rates if Project Co and the Authority undertake in writing to reimburse the Independent Tester in respect of the net cost of such insurance Prior to the Independent Tester above commercially reasonable rates. The Independent Tester shall, prior to commencing the provision commencement of the Services and as soon as reasonably practicable following renewal dates, produce the Consultant shall submit written evidence that the professional indemnity insurance policy covers the following: A. The Services for inspection the Project being carried out by Project Co the Consultant under the Agreement; B. The minimum professional indemnity insurance cover for any one incident and the Authority documentary evidence total limit for all incidents occurring within the period of professional indemnity insurance, the said limits shall apply to any periods of Change, delay, extension or variation to the programme; C. Any Change, delay, variation and extension to the Services and / or the Project; and D. The benefits of the professional indemnity insurance policy are available to any party without restriction. The Consultant shall maintain the professional indemnity insurance policy in full force and effect and shall not do, nor permit to be done, any action or inaction which may entitle the insurer(s) to repudiate the professional indemnity insurance policy or otherwise jeopardize the right of the Consultant to indemnity according to the professional indemnity insurance policy. The Consultant shall agree that such it is not permitted, nor shall it permit, the professional indemnity insurance policy to be cancelled or modified in any way or by any person or entity without the prior written agreement of KRFB. It shall be the obligation of the Consultant to notify the insurance company of any change, delay, extension or variation to the nature or extent of the programme for the extent of the Services or Project and to ensure that the coverage and adequacy of the professional indemnity insurance is being properly maintained. The above obligations in respect burden of proof for any claim by KRFB under the professional indemnity insurance policy falls on the Consultant and under no circumstances whatsoever shall continue notwithstanding termination the Consultant delay advancement of this such a claim to the insurer(s). The Consultant has an express obligation to fully pursue said claim(s) with his insurer(s) forthwith. The Consultant shall maintain in force the insurances required throughout the duration of the Agreement for or any reason whatsoeverother required duration. 3.1. Facilities, including (without limitation) breach Information and Services of others provided by Project Co KRFB A. Available relevant information: In the time, if any, stated in Annexure-1, and the AuthorityGeneral Conditions of Engagement. The Consultant shall review such facilities, information and services for completeness, errors and inconsistencies but shall not be required to verify the accuracy of such facilities, information and services.

Professional Indemnity Insurance. 8.1 Without prejudice to its obligations under this AgreementDeed, or otherwise at law, the Independent Tester shall maintain professional indemnity insurance with a limit of indemnity of not less than [ten million pounds (£10,000,000)]16 10,000,000) for any one claim in respect of any neglect, error or omission on the Independent Tester’s part in the performance of its obligations under this Agreement Deed for the period commencing on the date of this Agreement Deed and expiring 12 years after: : 8.1.1 the date of final certification of the Works; or or 8.1.2 the termination of this AgreementDeed, whichever is the earlier, provided that such insurance is available in the market place at commercially reasonable rates. . 8.2 The Independent Tester shall maintain such insurance with reputable insurers carrying on business in the United Kingdom. . 8.3 Any increased or additional premium required by insurers by reason of the Independent Tester's own claims record or other acts, omissions, matters or things particular to the Independent Tester shall be deemed to be within commercially reasonable rates. . 8.4 The Independent Tester shall as soon as reasonably practicable inform Project Co and the Authority Trust if such insurance ceases to be available at commercially reasonable rates in order that the Independent Tester and Project Co and the Authority Trust can discuss means of best protecting the respective positions of Project Co and the Authority Trust and the Independent Tester in respect of the Project in the absence of such insurance. . 8.5 The Independent Tester shall fully co-operate with any measures reasonably required by Project Co and the Authority Trust including (without limitation) completing any proposals for insurance and associated documents, maintaining such insurance at rates above commercially reasonable rates if Project Co and the Authority Trust undertake in writing to reimburse the Independent Tester in respect of the net cost of such insurance to the Independent Tester above commercially reasonable rates. . 8.6 The Independent Tester shall, prior to commencing the provision of the Services and as soon as reasonably practicable following renewal dates, produce for inspection by Project Co and the Authority Trust documentary evidence that such insurance is being properly maintained. . 8.7 The above obligations in respect of professional indemnity insurance shall continue notwithstanding termination of this Agreement Deed for any reason whatsoever, including (without limitation) breach by Project Co and the AuthorityTrust.

Professional Indemnity Insurance. Without prejudice to its obligations under this Agreement, or otherwise at law, the Independent Tester shall maintain professional indemnity insurance with a limit of indemnity of not less than [ten million pounds (£10,000,000)]16 10,000,000)]15 for any one claim in respect of any neglect, error or omission on the Independent Tester’s part in the performance of its obligations under this Agreement for the period commencing on the date of this Agreement and expiring 12 years after: the date of final certification of the Works; or the termination of this Agreement, whichever is the earlier, provided that such insurance is available in the market place at commercially reasonable rates. The Independent Tester shall maintain such insurance with reputable insurers carrying on business in the United Kingdom. Any increased or additional premium required by insurers by reason of the Independent Tester's own claims record or other acts, omissions, matters or things particular to the Independent Tester shall be deemed to be within commercially reasonable rates. The Independent Tester shall as soon as reasonably practicable inform Project Co Sub-hubco and the Authority if such insurance ceases to be available at commercially reasonable rates in order that the Independent Tester and Project Co Sub-hubco and the Authority can discuss means of best protecting the respective positions of Project Co Sub-hubco and the Authority and the Independent Tester in respect of the Project in the absence of such insurance. The Independent Tester shall fully co-operate with any measures reasonably required by Project Co Sub-hubco and the Authority including (without limitation) completing any proposals for insurance and associated documents, maintaining such insurance at rates above commercially reasonable rates if Project Co Sub-hubco and the Authority undertake in writing to reimburse the Independent Tester in respect of the net cost of such insurance to the Independent Tester above commercially reasonable rates. The Independent Tester shall, prior to commencing the provision of the Services and as soon as reasonably practicable following renewal dates, produce for inspection by Project Co Sub-hubco and the Authority documentary evidence that such insurance is being properly maintained. The above obligations in respect of professional indemnity insurance shall continue notwithstanding termination of this Agreement for any reason whatsoever, including (without limitation) breach by Project Co Sub-hubco and the Authority.