Common use of Professional Errors and Omissions Liability Clause in Contracts

Professional Errors and Omissions Liability. Insurance protecting the Development Consultant, its Consultants and sub-consultants and their respective servants, agents, or employees against losses, claims, damages, actions, and causes of action that the Client may sustain, incur, suffer or be put to at any time either before or after the expiration or termination of this Agreement, that arise out of errors, omissions or negligent acts of the Development Consultant, or its Consultants, sub-consultants, servants, agents, or employees under this Agreement. Such insurance shall be in an amount usual for an agreement of this nature but for no less than $1,000,000 per occurrence and $2,000,000 in the aggregate;