Common use of Minimum Policy Clause in Contracts

Minimum Policy. Group Practice shall, at Physician Stockholder's expense, at all times during the Term of Engagement, maintain and keep in force professional liability insurance "claims made" (or occurrence) policies of standard form in the State providing coverage for Physician Stockholder, Group Practice and Administrator (if possible) with limits of not less than Two Hundred Thousand Dollars ($200,000.00) per occurrence, and not less than Six Hundred Thousand Dollars ($600,000.00) in the aggregate, or such higher amount as may be deemed reasonable and/or necessary for each single year. The policy shall be placed with insurance companies authorized and licensed to issue such policies in the State with an "A" or higher A.M. Best Rating and reasonably acceptable to Group Practice, and shall name Physician Stockholder, Group Practice and Administrator (if possible) as insured parties. Physician Stockholder shall cooperate fully with Group Practice and such insurance companies in order to obtain such professional liability insurance policy.

Minimum Policy. Group Practice shall, at Physician StockholderEmployee's expense, at all times during the Term of EngagementEmployment, maintain and keep in force professional liability insurance "claims made" (or occurrence) policies of standard form in the State providing coverage for Physician StockholderEmployee, Group Practice and Administrator (if possible) with limits of not less than Two Hundred Thousand Dollars ($200,000.00) per occurrence, and not less than Six Hundred Thousand Dollars ($600,000.00) in the aggregate, aggregate or such higher amount as may be deemed reasonable and/or necessary for each single year. The policy shall be placed with insurance companies authorized and licensed to issue such policies in the State with an "A" or higher A.M. Best Rating and reasonably acceptable to Group Practice, and shall name Physician StockholderEmployee, Group Practice and Administrator (if possible) as insured parties. Physician Stockholder Employee shall cooperate fully with Group Practice and such insurance companies in order to obtain such professional liability insurance policy.