Common use of ERRORS AND OMISSIONS / WORKERS COMP Clause in Contracts

ERRORS AND OMISSIONS / WORKERS COMP. 8.1.1 The Commissioning Authority Professional shall purchase and maintain with a company, or companies, licensed to do business in the State of Mississippi, such insurance as will provide protection from claims resulting from errors and omissions, or negligent acts arising out of the performance of professional services and operations under this Agreement. 8.1.2 The errors and omissions insurance required in Subparagraph 8.1.1 shall be written for not less than: Total Project Funds (Amount Listed on Page One) Minimum Limit of Insurance $ 0 - $ 999,999 $ 0 $ 1,000,000 - $ 7,499,999 $ 250,000 $ 7,500,000 - $ 14,999,999 $ 500,000 $ 15,000,000 - Up $ 1,000,000 8.1.3 If by the terms of this insurance any mandatory deductibles are required, or if the Commissioning Authority Professional should elect with the written concurrence of the Owner, to increase the mandatory deductible amounts or purchase this insurance with voluntary deductible amounts, the Commissioning Authority Professional shall be responsible for payment of the amount of the deductible in the event a claim is paid. In the event of a claim against the policy, the Commissioning Authority Professional shall arrange for the restoration of the limit of liability so that full coverage is maintained at all times. 8.1.4 The Commissioning Authority Professional shall be fully responsible to the Owner for work performed by Associates and/or Consultants. In the case of joint ventures, joint venture errors and omissions insurance coverage shall be required in accordance with the limits stated in Subparagraph 8.1.2.

ERRORS AND OMISSIONS / WORKERS COMP. 8.1.1 The Commissioning Authority Professional shall purchase and maintain with a company, or companies, licensed to do business in the State of Mississippi, such insurance as will provide protection from claims resulting from errors and omissions, or negligent acts arising out of the performance of professional services and operations under this Agreement. 8.1.2 The errors and omissions insurance required in Subparagraph 8.1.1 shall be written for not less than: Total Project Funds (Amount Listed on Page One) Minimum Limit of Insurance $ 0 - $ 999,999 $ 0 250,000.00 $ 1,000,000 - $ 7,499,999 $ 250,000 500,000.00 $ 7,500,000 - $ 14,999,999 $ 500,000 750,000.00 $ 15,000,000 - Up $ 1,000,0001,000,000.00 8.1.3 If by the terms of this insurance any mandatory deductibles are required, or if the Commissioning Authority Professional should elect with the written concurrence of the Owner, to increase the mandatory deductible amounts or purchase this insurance with voluntary deductible amounts, the Commissioning Authority Professional shall be responsible for payment of the amount of the deductible in the event a claim is paid. In the event of a claim against the policy, the Commissioning Authority Professional shall arrange for the restoration of the limit of liability so that full coverage is maintained at all times. 8.1.4 The Commissioning Authority Professional shall be fully responsible to the Owner for work performed by Associates and/or Consultants. In the case of joint ventures, joint venture errors and omissions insurance coverage shall be required in accordance with the limits stated in Subparagraph 8.1.2.