E&O Clause Samples

E&O. Professional Liability or Errors & Omissions Liability insurance appropriate to the Consultant’s profession. Architects’ and Engineers’ coverage is to be endorsed to include contractual liability.
View SourceView Similar (18)
E&O. With respect to the Errors and Omissions and Bankers’ Blanket Bond policy no. FB 0405788 issued by certain Underwriters at Lloyd’s, London (the “Lloyd’s E&O Policy”), the Parties agree to negotiate with the insurer and use their commercially reasonable efforts to obtain an endorsement to that policy which will provide as follows: (i) the policy is amended to provide that the named insured is Lazard Ltd and its subsidiaries or affiliates; and (ii) the policy, subject to its terms, covers Lazard Ltd and its subsidiaries or affiliates for claims made through June 30, 2005, or such later expiration date as may be agreed upon between Lazard Ltd (in its absolute discretion) and the insurer. Lazard Ltd and LFCM and each of their respective subsidiaries or affiliates acknowledge that in light of the “change of control” provision in the Lloyd’s E&O Policy, LFCM and its subsidiaries or affiliates may be eligible for coverage for claims made through June 30, 2005, or such later expiration date as may be agreed between Lazard Ltd (in its absolute discretion) and the insurer, but only for acts and omissions occurring prior to the Separation Date; provided, however, that LFCM and its subsidiaries or affiliates may only make a claim under the policy with Lazard Ltd’s consent, which will only be granted if Lazard Ltd (in its absolute discretion) is satisfied that the aggregate limit is sufficient to pay any such claim. Lazard Ltd may, in its absolute discretion, agree with the insurers to extend the term of the Lloyd’s E&O Policy beyond June 30, 2005, but is not obligated to do so.
View SourceView Similar (2)
E&O. ‌ For policies that provide coverage per Mortgage Loan, the maximum deductible amount for each Mortgage Loan cannot be more than five percent (5%) of the insurer’s liability per Mortgage Loan. For policies that provide coverage per aggregate loss, the highest deductible permitted for E&O insurance is the greater of $100,000 or five percent (5%) of the actual amount of insurance in force. For example, if a policy provides $100,000 liability per Mortgage Loan, the deductible amount for each Mortgage Loan cannot exceed $5,000, regardless of the actual Principal Balance of the Mortgage Loan.
View Source
E&O. Life Insurance Corporation and partnerships must maintain E & O insurance coverage with a minimum of $1 million coverage per incident and an aggregate limit of $2 million with two years tail coverage and extended coverage for fraud. The name of the coverage provider and the policy or certificate number must be provided with the corporation or partnership application. All applications for a corporate agency must be accompanied with a copy of the current Errors and Omissions certificate in the legal name of the corporate agency. A mandatory fraud coverage/ONTARIO endorsement of $1,000 is also required. If your E&O policy holds a vicarious liability: E&O policy is intended to protect you as a licensed advisor, and your unlicensed employees, if applicable. However, you can add coverage for the following firms to your policy: ⮚ Firm(s) in which you hold an ownership interest, under which you provide financial advisory services (see reference to “Personal Corporation” below) ⮚ Firm(s) with which you are contracted to do business that require their name(s) to be shown on your Certificate of Insurance Note that under certain circumstances, the addition of any of the above firms to your coverage is provided in a very limited capacity: that of “Vicarious Liability”. For firms with whom you do business i.e. a contracted mutual fund dealer, vicarious liability protection is adequate and will satisfy their requirements. However, vicarious liability coverage may not be adequate to fully protect your firm. In Common Law and under the Civil Code, the principle of vicarious liability establishes that an employer or agency may be held liable for the conduct of its employees/agents, without proving actual negligence. However, should a claim be brought against your firm alleging negligence (“direct” liability), such as allegations of improper hiring, negligent supervision or training, your Agent’s E&O policy won’t respond to defend your firm. Also, where a licensed agent has left the firm, and a suit is brought against the firm alleging negligence on the part of the former employee, your firm could be called upon by the courts to respond. Under these circumstances and many other situations, your Agent’s E&O policy won’t respond to protect your firm. Any legal expenses or court awards would be borne entirely by your firm. In certain circumstances, agents can obtain full coverage beyond vicarious liability under their individual Agent’s E&O insurance.
View Source
E&O. Professional Liability or Errors & Omissions Liability insurance appropriate to MTS or the Contractor’s profession.
View Source

Related to E&O

  • First Aid Training In the interests of the occupational safety and health of employees, the Employer will undertake an in-service program of first aid training aimed at providing a first aid officer for each department.

  • EMPLOYEE EVALUATIONS 6.1 Administrators will meet with new employees to discuss their job description within one (1) month of hire. The Administrator and new employee will sign off on the job description and it will be forwarded to the Human Resources Department for inclusion in the employee‘s personnel file. The Human Resources Department will compile and distribute a list showing each employee‘s evaluator prior to November 1st of each year. Bargaining unit job descriptions will be made available via the District‘s web site. 6.2 Evaluations will transpire as follows for employees that are receiving satisfactory ratings: a. New hires—regular part-time (school year employees) will be evaluated at three (3) and six (6) working months. b. New hires—full time (12 month employees) will be evaluated at three (3), six (6) and twelve (12) months. c. After the initial year of employment, each employee shall be evaluated at least once annually by March 31st. 6.3 Criteria for evaluating bargaining unit members will be based on the performance categories outlined on the evaluation form as related to the job description of their specific position assignment. 6.4 Evaluation reports shall include feedback regarding strengths and weaknesses (if any) demonstrated by the employee. Prior to an employee receiving a rating less than “Meets Expectations,” the employee shall be advised of the performance concern and provided with a clear statement of any deficiency and a statement defining acceptable performance. This shall occur within a reasonable time prior to the final evaluation to allow the employee a chance to demonstrate improvement. 6.5 In the event an employee is evaluated overall as “Does Not Meet Expectations,” the district, in consultation with the employee and the Association, will provide the employee a written plan of improvement (See Employee Plan of Improvement form in Appendix). The plan shall clearly define all areas of deficiency, provide clear and attainable performance goals, and outline supports (if any) to be given, including any necessary training at the District’s expense. The employee will be given a reasonable amount of time, not to exceed sixty (60) working days, to meet job performance expectations. During the improvement period, feedback will be provided through a minimum of three scheduled meetings. Following the completion of the plan, the supervisor shall notify the employee in writing of the outcome. Failure to demonstrate satisfactory improvement may constitute grounds for termination. 6.6 The bargaining unit member shall be given a copy of their evaluation, and any data collection sheets (with the submitters name excluded) used in the evaluation. 6.7 Under the law there is no right to Association Representation at evaluation conferences. 6.8 Any information shared with the evaluating administrator for the evaluation process shall be recorded on Data Collection Sheet(s), with the exception of those unit members that have supervising teachers. Supervising teachers will work directly with the evaluating administrator to share performance information for inclusion in the unit member‘s evaluation. 6.9 Employees shall have the right to respond to evaluations in writing. Such written response shall be attached to the evaluation if received within 5 days. 6.10 No bargaining unit member shall be required to sign a blank or incomplete evaluation form.

  • Employee Training The Provider shall provide periodic security training to those of its employees who operate or have access to the system. Further, Provider shall provide LEA with contact information of an employee who LEA may contact if there are any security concerns or questions.

  • COVID-19 Vaccinations Contractor understands, acknowledges, and agrees that, pursuant to Article II of the General Appropriations Act, none of the General Revenue Funds appropriated to the Department of State Health Services (DSHS) may be used for the purpose of promoting or advertising COVID-19 vaccinations in the 2024-25 biennium. It is also the intent of the legislature that to the extent allowed by federal law, any federal funds allocated to DSHS shall be expended for activities other than promoting or advertising COVID-19 vaccinations. Contractor represents and warrants that it is not ineligible, nor will it be ineligible during the term of this Contract, to receive appropriated funding pursuant to Article II.

  • Flexible Work Schedule A flexible work schedule is any schedule that is not a regular, alternate, 9/80, or 4/10 work schedule and where the employee is not scheduled to work more than 40 hours in the "workweek" as defined in Subsections F. and H., below.