Project Specific Professional Liability Insurance Sample Clauses

Project Specific Professional Liability Insurance. The Contractor shall maintain Professional Liability Errors and Omissions insurance for the Project providing coverage in an amount of not less than Five Million Dollars ($5,000,000.00) per claim and Ten Million Dollars ($10,000,000.00) aggregate, with a maximum deductible of Fifty Thousand Dollars ($50,000.00). The Contractor accepts responsibility for the acts and omissions of all employees of their Project team, sub-contractors and consultants it may engage in providing the Project deliverables. The Contractor’s professional errors and omissions insurance shall remain in force for the life of the Project and for twenty-four (24) months after completion of the Work. Contractors’ Equipment Insurance The Contractor shall maintain Contractor’s Equipment Insurance for the life of the Project . With respect to the policies of insurance procured by the Contractor or its Subcontractors hereunder: the Contractor will furnish the Owner with certificates of insurance for inspection by authorized representatives of the Owner no later than twenty (20) Business Days prior to the date of Notice to Proceed and immediately upon renewal of any insurance policy. If the Owner requests, the Contractor will also furnish the Owner with policies of insurance for inspection by authorized representatives of the Owner. The furnishing of insurance by the Contractor does not limit any of the other obligations or liabilities of the Contractor under the Contract. The bankruptcy or insolvency of any insurance company or the failure of any insurance company to pay any claim under an insurance policy will not be construed as a waiver or release of the Contractor’s obligations or liabilities under the Contract; if the Contractor fails to provide to the Owner satisfactory evidence of the Contractor’s insurance upon request or, if after providing such evidence, the policy lapses, is cancelled, or there is a material change in coverage, then in each such case the Owner may at its option without restricting any of its other rights and remedies arising from such failure, whether under this Contract or pursuant to any Applicable Laws, procure and maintain such insurance in the name of the Contractor, the cost of which shall be payable by the Contractor to the Owner on demand, and the Owner may at its option deduct as an off-set such cost from any monies which are due or may become due to the Contractor; the Contractor shall ensure that all Subcontractors engaged in the Work shall procure and m...
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Project Specific Professional Liability Insurance. .1 If directed by the Owner, the A/E shall, in consultation with the Owner, obtain proposals for project specific professional liability insurance to cover the A/E and any Consultants (“Project-specific Professional Liability Insurance”) in an amount of not less than $2,000,000.‌ .2 The term of coverage of such insurance shall include the design period, the construction period, and a period of no less than 10 years after Contract Completion.
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Project Specific Professional Liability Insurance. The Project-Specific Professional Liability Insurance coverage shall be provided on a claims- made form with limits of $75,000,000 per claim/$75,000,000 policy aggregate, a term of seven (7) years, an extended reporting period of ten (10) years, with full “prior acts” coverage for Services described in the Agreement (the “OCIP Professional Liability Policy”). The insurance shall be non-cancelable by the applicable OCIP Insurer, except for non-payment of premiums. Consultant shall be responsible, at its own expense, for payment of a self-insured retention, including defense costs and other claim expenses, for losses payable under the OCIP Professional Liability Policy that are attributable to Consultant’s acts, errors, or omissions, or the acts, errors, or omissions of any of its subcontractors or subconsultants or any other entity or person for whom Consultant may be responsible. The amount of the self-insured retention shall be based on the amount of fees approved by the Port to be payable to Consultant under the Agreement or any other contracts or agreements awarded to Consultant by the Port in connection with the Port’s construction projects covered by the OCIP, all determined at the time a claim is made, as follows: $5,000 per claim for contracts with fees under $15,000 $10,000 per claim for contracts with fees from $15,000 to $499,999 $25,000 per claim for contracts with fees from $500,000 to $999,999 $50,000 per claim for contracts with fees from $1,000,000 to $4,999,999 $75,000 per claim for contracts with fees from $5,000,000 to $9,999,999 $150,000 per claim for contracts with fees from $10,000,000 or greater After the applicable OCIP Insurer acknowledges that self-insured retentions of $500,000 in the aggregate have been paid pursuant to claims under the OCIP Professional Liability Policy, the maximum self- insured retention shall thereafter be $50,000 per claim, and each insured under such policy shall be responsible for a self-insured retention determined at the time a claim is made, as follows: $2,000 per claim for contracts with fees under $15,000 $3,500 per claim for contracts with fees from $15,000 to $499,999 $8,500 per claim for contracts with fees from $500,000 to $999,999 $16,500 per claim for contracts with fees from $1,000,000 to $4,999,999 $25,000 per claim for contracts with fees from $5,000,000 to $9,999,999 $50,000 per claim for contracts with fees from $10,000,000 or greater The OCIP Professional Liability Insurance policy shall c...
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Related to Project Specific Professional Liability Insurance

  • Professional Liability Insurance Professional liability insurance covering any damages caused by an error, omission or any negligent act with minimum limits as follows: i. $1,000,000 each occurrence; and ii. $1,000,000 general aggregate.

  • PROFESSIONAL LIABILITY INSURANCE (ERRORS & OMISSIONS) Professional Liability Insurance for Errors and Omissions coverage in the amount of not less than ($1,000,000). If CONTRACTOR sub-contracts in support of CONTRACTOR’S work provided for in the agreement, Professional Liability Insurance for Errors shall be provided by the sub-contractor in an amount not less than one million dollars ($1,000,000) in aggregate. The insurance coverage provided by the CONTRACTOR shall contain language providing coverage up to one (1) year following completion of the contract in order to provide insurance coverage for the hold harmless provisions herein if the policy is a claims-made policy.

  • Commercial Umbrella Liability Insurance The Contractor shall provide a Commercial Umbrella Liability Insurance to provide excess coverage above the Commercial General Liability, Commercial Business Automobile Liability and the Workers' Compensation and Employers' Liability to satisfy the minimum limits set forth herein. The umbrella coverage shall follow form with the Umbrella limits required as follows: $ 2,000,000 per Occurrence $2,000,000 per Occurrence $ 4,000,000 Aggregate $10,000,000 Aggregate Additional Requirements for Commercial Umbrella Liability Insurance are shown below at Paragraph 1.5.3.3.6.

  • The Commercial General Liability Insurance, Comprehensive Automobile Liability Insurance and Excess Public Liability Insurance policies, if written on a Claims First Made Basis, shall be maintained in full force and effect for two (2) years after termination of this LGIA, which coverage may be in the form of tail coverage or extended reporting period coverage if agreed by the Parties.

  • PROFESSIONAL LIABILITY AND CYBER LIABILITY INSURANCE COVERAGE In addition to the insurance required in Attachment C to this Contract, before commencing work on this Contract and throughout the term of this Contract, Contractor agrees to procure and maintain (a) Technology Professional Liability insurance for any and all services performed under this Contract, with minimum third party coverage of $1,000,000.00 per claim, $2,000,000.00 aggregate. To the extent Contractor has access to, processes, handles, collects, transmits, stores or otherwise deals with State Data, Contractor shall maintain first party Breach Notification Coverage of not less than $1,000,000.00. Before commencing work on this Contract the Contractor must provide certificates of insurance to show that the foregoing minimum coverages are in effect. With respect to the first party Breach Notification Coverage, Contractor shall name the State of Vermont and its officers and employees as additional insureds for liability arising out of this Contract.

  • D&O Liability Insurance To the extent that the Company maintains a policy or policies of insurance (“D&O Liability Insurance”) providing liability insurance for directors and officers of the Company in their capacities as such (and for any capacity in which any director or officer of the Company serves any other Enterprise at the request of the Company), in respect of acts or omissions occurring while serving in such capacity, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any other director or officer under such policy or policies.

  • Comprehensive Automobile Liability Insurance for coverage of owned and non-owned and hired vehicles, trailers or semi-trailers licensed for travel on public roads, with a minimum combined single limit of One Million Dollars ($1,000,000) each occurrence for bodily injury, including death, and property damage.

  • Umbrella Liability Insurance Liability on a following form basis with a limit $1,000,000 per occurrence in excess of all primary limits.

  • General Liability Insurance The Contractor must secure and maintain Commercial General Liability Insurance, including bodily injury, property damage, products, personal and advertising injury, and completed operations. This insurance must provide coverage for all claims that may arise from performance of the Contract or completed operations, whether by the Contractor or anyone directly or indirectly employed by the Contractor. Such insurance must include the State of Florida as an additional insured for the entire length of the resulting contract. The Contractor is responsible for determining the minimum limits of liability necessary to provide reasonable financial protections to the Contractor and the State of Florida under the resulting contract.

  • Contractor's Liability Insurance 11.1.1. Contractor shall maintain such insurance as will protect Contractor from claims set forth below which may arise out of or result from Contractor's operations under the Contract and for which Contractor may be legally liable, whether such operations be by Contractor or a Subcontractor, or by anyone directly or indirectly employed by any of them, or by anyone for whose acts any of them may be liable: .1 claims under workers' compensation, disability benefit and other similar employee benefit acts which are applicable to the Work to be performed; .2 claims for damages because of bodily injury, occupational sickness or disease, or death of Contractor's employees; .3 claims for damages because of bodily injury, sickness, disease or death of any person other than employees of Contractor or a Subcontractor or by anyone directly or indirectly employed by any of them in connection with the Work; .4 claims for damages, other than to the Work itself, because of injury to or destruction of tangible property, including loss of use resulting therefrom; and .5 claims for damages because of bodily injury, death of a person or property damage arising out of ownership, maintenance or use of a motor vehicle. Such insurance need not cover acts of terrorism, mold or microorganisms or completed operations to the extent that such coverage is not available on commercially reasonable terms. 11.1.2. The insurance required by Subparagraph 11.1.1 shall be written for not less than limits of liability specified in the Contract Documents or required by law, whichever coverage is greater. Coverages shall be written on an occurrence basis. All coverages shall be maintained without interruption from date of commencement of the Work until date of final payment and any additional period specified by any Contract Document for coverage required to be maintained after final payment. 11.1.3. Certificates of insurance shall be filed with Owner prior to commencement of the Work. These certificates and the insurance policies required by this Paragraph 11.1 shall contain a provision that coverages afforded under the policies will not be canceled or materially modified until at least 20 days' prior written notice has been given to Owner. Information concerning reduction of coverage on account of revised limits shall be furnished by Contractor with reasonable promptness in accordance with Contractor's information and belief.

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