Common use of Project Professional Liability Clause in Contracts

Project Professional Liability. If OWNER notifies DESIGN PROFESSIONAL that a project professional liability policy will be purchased, then DESIGN PROFESSIONAL agrees to use its best efforts in cooperation with OWNER and OWNER’S insurance representative, to pursue the maximum credit available from the professional liability carrier for a reduction in the premium of DESIGN PROFESSIONAL’S professional liability policy. If no credit is available from DESIGN PROFESSIONAL’S current professional policy underwriter, then DESIGN PROFESSIONAL agrees to pursue the maximum credit available on the next renewal policy, if a renewal occurs during the term of the project policy (and on any subsequent professional liability policies that renew during the term of the project policy). DESIGN PROFESSIONAL agrees that any such credit will fully accrue to OWNER. Should no credit accrue to OWNER, OWNER and DESIGN PROFESSIONAL, agree to negotiate in good faith a credit on behalf of OWNER for the provision of project-specific professional liability insurance policy in consideration for a reduction in DESIGN PROFESSIONAL’S self-insured retention and the risk of uninsured or underinsured consultants. DESIGN PROFESSIONAL agrees to provide the following information when requested by OWNER or OWNER’S Project Manager:

Project Professional Liability. If OWNER notifies DESIGN PROFESSIONAL that a project professional liability policy will be purchased, then DESIGN PROFESSIONAL agrees to use its best efforts in cooperation with OWNER and OWNER’S insurance representative, to pursue the maximum credit available from the professional liability carrier for a reduction in the premium of DESIGN PROFESSIONAL’S professional liability policy. If no credit is available from DESIGN PROFESSIONAL’S current professional policy underwriter, then DESIGN PROFESSIONAL agrees to pursue the maximum credit available on the next renewal policy, if a renewal occurs during the term of the project policy (and on any subsequent professional liability policies that renew during the term of the project policy). DESIGN PROFESSIONAL agrees that any such credit will fully accrue to OWNER. Should no credit accrue to OWNER, OWNER and DESIGN PROFESSIONAL, agree to negotiate in good faith a credit on behalf of OWNER for the provision of project-specific professional liability insurance policy in consideration for a reduction in DESIGN PROFESSIONAL’S self-insured retention and the risk of uninsured or underinsured consultantsConsultants. DESIGN PROFESSIONAL agrees to provide the following information when requested by OWNER or OWNER’S Project Manager:

Project Professional Liability. If OWNER Owner notifies DESIGN PROFESSIONAL Design Builder that a project professional liability policy will be purchased, then DESIGN PROFESSIONAL Design Builder agrees to use its best efforts in cooperation with OWNER Owner and OWNER’S Owner’s insurance representative, to pursue the maximum credit available available, from the professional liability carrier providing the coverage required in paragraph V above, for a reduction in the premium of DESIGN PROFESSIONAL’S professional liability policypolicy premium associated with that coverage. If no credit is available from DESIGN PROFESSIONAL’S current that professional policy underwriter, then DESIGN PROFESSIONAL Design Builder agrees to pursue the maximum credit available on the next renewal policy, if a renewal occurs during the term of the project policy (and on any subsequent professional liability policies that renew during the term of the project policy). DESIGN PROFESSIONAL Design Builder agrees that any such credit will fully accrue to OWNEROwner. Should no credit accrue to OWNEROwner, OWNER Owner and DESIGN PROFESSIONALDesign Builder, agree to negotiate in good faith a credit on behalf of OWNER Owner for the provision of project-specific professional liability insurance policy in consideration for a reduction in DESIGN PROFESSIONAL’S any applicable self-insured retention and the risk of uninsured or underinsured consultants. DESIGN PROFESSIONAL Design Builder agrees to provide the following information when requested by OWNER Owner or OWNER’S Project ManagerOwner’s Representative: