Common use of Professional Liability (Errors and Omissions Liability Clause in Contracts

Professional Liability (Errors and Omissions Liability. Each Claim $1,000,000 Annual Aggregate $2,000,000 $0 to $5,000,000 $1,000,000 Each Occurrence; $2,000,000 Aggregate $5,000,001 to $15,000,000 $5,000,000 Each Occurrence; $5,000,000 Aggregate $15,000,001 to $50,000,000 $5,000,000 Each Occurrence; $10,000,000 Aggregate $50,000,001 & up $25,000,000 Each Occurrence; $25,000,000 Aggregate a. The Consultant shall be responsible for monitoring the Contract value as it increases and the Consultant shall be responsible for purchasing additional insurance to be in compliance with this Contract should the increased value of the Contract require a higher limit of insurance. The Department reserves the right to request that the Consultant provide proof of increased insurance coverage corresponding to increased contract value. The Consultant shall provide a new certificate of insurance that reflects the increase in limits as required in 4.20 (E) below. b. In the event that the liability insurance required by this Contract is written on a claims-made basis, the Consultant warrants that any retroactive date under the policy shall precede the effective date of this Contract; and that either continuous coverage will be maintained or an extended discovery period will be exercised for a period of three (3) years beginning at the time work under this Contract is completed. c. The policy shall cover professional misconduct or negligent acts for those positions defined in the Scope of Work (APPENDIX A) of this Contract. d. Consultant is required to carry professional liability insurance regardless of the type of contract or the scope of work and it shall not be waived without prior approval from Risk Management.

Professional Liability (Errors and Omissions Liability. Each Claim $1,000,000 Annual Aggregate $2,000,000 $0 to $5,000,000 $1,000,000 Each Occurrence; $2,000,000 Aggregate $5,000,001 to $15,000,000 $5,000,000 Each Occurrence; $5,000,000 Aggregate $15,000,001 to $50,000,000 $5,000,000 Each Occurrence; $10,000,000 Aggregate $50,000,001 & up $25,000,000 Each Occurrence; $25,000,000 Aggregate a. The Consultant shall be responsible for monitoring the Contract value as it increases and the Consultant shall be responsible for purchasing additional insurance to be in compliance with this Contract should the increased value of the Contract require a higher limit of insurance. The Department reserves the right to request that the Consultant provide proof of increased insurance coverage corresponding to increased contract value. The Consultant shall provide a new certificate of insurance that reflects the increase in limits as required in 4.20 (E) below. b. In the event that the liability insurance required by this Contract is written on a claims-made basis, the Consultant warrants that any retroactive date under the policy shall precede the effective date of this Contract; and that either continuous coverage will be maintained or an extended discovery period will be exercised for a period of three (3) eight years beginning at the time work under this Contract is completed. c. The policy shall cover professional misconduct or negligent acts for those positions defined in the Scope of Work (APPENDIX A) of this Contract. d. Consultant is required to carry professional liability insurance regardless of the type of contract or the scope of work and it shall not be waived without prior approval from Risk Management.

Professional Liability (Errors and Omissions Liability. Each Claim $1,000,000 Annual Aggregate $2,000,000 Contract Value Required Insurance $0 to $5,000,000 $1,000,000 Each Occurrence; $2,000,000 Aggregate $5,000,001 to $15,000,000 $5,000,000 Each Occurrence; $5,000,000 Aggregate $15,000,001 to $50,000,000 $5,000,000 Each Occurrence; $10,000,000 Aggregate $50,000,001 & up $25,000,000 Each Occurrence; $25,000,000 Aggregate a. The Consultant shall be responsible for monitoring the Contract value as it increases and the Consultant shall be responsible for purchasing additional insurance to be in compliance with this Contract should the increased value of the Contract require a higher limit of insurance. The Department reserves the right to request that the Consultant provide proof of increased insurance coverage corresponding to increased contract value. The Consultant shall provide a new certificate of insurance that reflects the increase in limits as required in 4.20 (E) below.. SAMPLE b. In the event that the liability insurance required by this Contract is written on a claims-made claims‐made basis, the Consultant warrants that any retroactive date under the policy shall precede the effective date of this Contract; and that either continuous coverage will be maintained or an extended discovery period will be exercised for a period of three (3) years beginning at the time work under this Contract is completed. c. The policy shall cover professional misconduct or negligent acts lack of ordinary skill for those positions defined in the Scope of Work (APPENDIX A) of this Contract. d. Consultant is required to carry professional liability insurance regardless of the type of contract or the scope of work and it shall not be waived without prior approval from Risk Management.

Professional Liability (Errors and Omissions Liability. Each Claim $1,000,000 Annual Aggregate $2,000,000 $0 to $5,000,000 $1,000,000 Each Occurrence; $2,000,000 Aggregate $5,000,001 to $15,000,000 $5,000,000 Each Occurrence; $5,000,000 Aggregate $15,000,001 to $50,000,000 $5,000,000 Each Occurrence; $10,000,000 Aggregate $50,000,001 & up $25,000,000 Each Occurrence; $25,000,000 Aggregate a. The Consultant shall be responsible for monitoring the Contract value as it increases and the Consultant shall be responsible for purchasing additional insurance to be in compliance with this Contract should the increased value of the Contract require a higher limit of insurance. The Department reserves the right to request that the Consultant provide proof of increased insurance coverage corresponding to increased contract value. The Consultant shall provide a new certificate of insurance that reflects the increase in limits as required in 4.20 (E) below. b. In the event that the liability insurance required by this Contract is written on a claims-made basis, the Consultant warrants that any retroactive date under the policy shall precede the effective date of this Contract; and that either continuous coverage will be maintained or an extended discovery period will be exercised for a period of three (3) years beginning at the time work under this Contract is completed. c. The policy shall cover professional misconduct or negligent acts lack of ordinary skill for those positions defined in the Scope of Work (APPENDIX A) of this Contract. d. Consultant is required to carry professional liability insurance regardless of the type of contract or the scope of work and it shall not be waived without prior approval from Risk Management.