Professional Liability (E&O Clause Samples
The Professional Liability (Errors and Omissions, or E&O) clause establishes the requirement for a party, typically a service provider or consultant, to maintain insurance coverage that protects against claims arising from professional mistakes, negligence, or failure to perform duties. This clause usually specifies minimum coverage amounts, the duration for which insurance must be maintained, and may require proof of insurance upon request. Its core function is to allocate risk by ensuring that financial responsibility for professional errors is covered, thereby protecting both parties from potential losses due to mistakes or omissions in the performance of professional services.
Professional Liability (E&O. Insurance: Covering all negligent errors or omissions, and negligent acts, which the CONTRACTOR, Subcontractor or anyone directly or indirectly employed by them, make in the performance of this Agreement which result in financial loss to the State of Alaska. Limits required are per the following schedule: Contract Combined Single Limit, Per Amount Occurrence & Annual Aggregate Under $25,000 As Available $25,000 to $100,000 $300,000 $100,000 to $499,999 $500,000 $500,000 to $999,000 $1,000,000 $1,000,000 and over Negotiable
Professional Liability (E&O. Insurance covering all activities of Client and its Prescriber End Users related to this Agreement, with minimum limits of $1 million per occurrence and $2 million annual policy aggregate; and
Professional Liability (E&O. Insurance is not required because: 1) the CONTRACTING AGENCY's use of the services or Work products obtained from the CONTRACTOR will not result in significant exposure to any third party claims for loss or damage; and 2), the CONTRACTOR services will not apply to any construction, alteration, demolition, repair or direct use of any highway, airport, harbor, building or other structure.
Professional Liability (E&O. $ 1 million per claim Consultant shall provide on a policy form appropriate to profession. If on a claims made basis, Insurance must show coverage date prior to start of work and it must be maintained for three years after completion of work. $ 1 million aggregate
Professional Liability (E&O. Insurance is not required because this Agreement is for one of the following applicable (checked) services for which E&O coverage is not needed: Right-of-Way Fee Appraisals Photogrammetric Mapping Services Architectural/Engineering review of Construction Bid Documents wherein design responsibility clearly remains with the designer of record. D3.6 Attached Exhibit D-1 identifies and provides justification for insurance modifications. Above checked modifications of the insurance requirements specified in Article D2 are hereby approved: CONTRACTING OFFICER Signature: Date: Contractor and all Subcontractors shall comply with the following applicable requirements of Alaska Statutes:
1. Alaska Business License (Form 08-070 issued under AS 43.70). This requirement does not apply to Universities.
2. Certificate of Registration for each individual to be in "responsible charge" (AS 08.48.341(14)) for Architecture, Engineering or Land Surveying (Form 08- 2407 issued under AS 08.48.211) issued prior to submittal of proposal. Associates, consultants, or specialists under the supervision of a registered individual in "responsible charge" are exempt from registration requirements (AS 08.48.331).
3. Certificate of Incorporation (Alaska firms) or Certificate of Authorization for Foreign Firm ("Out-of- State" firms). All corporations, regardless of type of services provided, must have one of the certificates (AS 10.06.218 and other sections of Title 10.06 - Alaska Corporations Code).
4. Current Board of Director's Resolution for incorporated Contractors and incorporated Subcontractors for Architecture, Engineering or Land Surveying (reference AS 08.48.241) which names the person(s) designated in "responsible charge" for each discipline. Such persons shall be licensed in Alaska and shall participate as project staff in the Contract/Subcontracts.
5. All partners in a Partnership to provide Architectural, Engineering, or Land Surveying must be legally registered in Alaska prior to submittal of proposal for at least one of those disciplines (AS 08.48.251) which the Partnership offers.
6. Joint Ventures, regardless of type of services provided, must be licensed/registered in the legal name of the Joint Venture as used in this proposal (AS 43.70.020 and 43.70.110(4)).
Professional Liability (E&O. Insurance
1. Manager will provide coverage no less than one million dollars ($1,000,000) for all professional services provided to Owner. With respect to the insurance described in Sections 9.2 A, B, C, & D owners will be listed as additional named insured on the policies.
Professional Liability (E&O. Insurance (if applicable) (A) $1,000,000 per claim (B) $25,000 maximum deductible per claim
Professional Liability (E&O with limits of at least $1,000,00 each incident.
Professional Liability (E&O. Insurance is not required because this Agreement is for one of the following applicable (checked) services for which E&O coverage is not needed:
Professional Liability (E&O. Insurance: Covering all negligent errors or omissions, and negligent acts, which the CONTRACTOR, Subcontractor or anyone directly or indirectly employed by them, make in the performance of this Agreement which result in financial loss to the State of Alaska. $ As Available D2.1.5 Professional Liability Insurance required for this Agreement is