Common use of Technology Errors and Omissions Clause in Contracts

Technology Errors and Omissions. The Professional and any professional sub-consultant retained by the Professional to work on the Contract shall procure and maintain during, and for a period of three (3) years after completion of the Contract, Technology Errors and Omissions Insurance in the amount of $2,000,000.00 for claims for damages arising from computer related services including the following: consulting, data processing, programming, system integration, software development, installation, distribution or maintenance, systems analysis or design, training, staffing or other support services, any electronic equipment, computer hardware or software developed, manufactured, distributed, licensed, marketed or sold. The Technology Errors and Omissions Insurance may be issued on a claims-made policy form, in which case the Professional shall purchase at its sole cost and expense, extended Discovery Clause coverage of up to three (3) years after work is completed if coverage is cancelled or not renewed.