Laserfiche WebLink
<br />Liability Insurance: <br /> <br />Professional Liability Insurance in an <br /> <br />amount <br /> <br />not <br /> <br />less than $500,000 per claim and $1,000,000 aggregate, and <br /> <br />automobile <br /> <br />liability insurance in an amount not less than $250,000 for <br /> <br />injuries <br /> <br />to anyone person and $500,000 on account of anyone accident <br /> <br />and <br /> <br />in <br /> <br />an <br /> <br />amount <br /> <br />of <br /> <br />not <br /> <br />less than $100,000 for property damage to <br /> <br />protect <br /> <br />the <br /> <br />Engineer <br /> <br />and <br /> <br />the <br /> <br />Engineer's <br /> <br />agents and employees from <br /> <br />claims <br /> <br />which <br /> <br />may <br /> <br />arise <br /> <br />from <br /> <br />services rendered under the Agreement, <br /> <br />whether <br /> <br />such <br /> <br />services <br /> <br />are <br /> <br />rendered by the Engineer or by any of the <br /> <br />Engineer's <br /> <br />agents <br /> <br />or <br /> <br />by <br /> <br />anyone <br /> <br />employed <br /> <br />by either. <br /> <br />Engineer, the <br /> <br />Engineer's <br /> <br />successors <br /> <br />and <br /> <br />assigns, hereby agree to maintain the same <br /> <br />or <br /> <br />similar <br /> <br />type, <br /> <br />form <br /> <br />and <br /> <br />amounts <br /> <br />of <br /> <br />professional <br /> <br />liability <br /> <br />coverage{s) <br /> <br />to <br /> <br />cover lawful claims arising before or after completion <br /> <br />of <br /> <br />this <br /> <br />project <br /> <br />and <br /> <br />as a result of this project for as long as such <br /> <br />coverage <br /> <br />is <br /> <br />reasonably <br /> <br />available <br /> <br />after <br /> <br />the <br /> <br />completion <br /> <br />of <br /> <br />this <br /> <br />Agreement <br /> <br />or <br /> <br />until <br /> <br />the <br /> <br />expiration <br /> <br />of <br /> <br />applicable <br /> <br />statute(s) <br /> <br />of <br /> <br />limitations, whichever first occurs. <br /> <br />Insurance carriers insuring the Engineer in accordance with this <br /> <br />Agreement <br /> <br />which are not rated by the most recent edition of Best'~ Kev <br /> <br />Ratinq <br /> <br />Guide, <br /> <br />Property-Casualty, <br /> <br />published <br /> <br />by A.M. Best Company, or <br /> <br />insurance <br /> <br />carriers <br /> <br />having <br /> <br />a rating lower than B VIII as shown in the <br /> <br />most <br /> <br />recent edition of said book, will not be approved by Owner unless <br /> <br />a <br /> <br />guaranty <br /> <br />bond <br /> <br />acceptable <br /> <br />to <br /> <br />Owner from a carrier rated B VIII or <br /> <br />higher <br /> <br />guaranteeing payment of any and all claims against the Engineer <br /> <br />is furnished to Owner. <br /> <br />The stated limits of insurance required by this Paragraph are <br /> <br />MINIMUM <br /> <br />ONLY <br /> <br />and <br /> <br />it <br /> <br />shall <br /> <br />be <br /> <br />the <br /> <br />Engineer's <br /> <br />responsibility <br /> <br />to <br /> <br />determine <br /> <br />what limits are adequate. <br /> <br />These minimum limits may be basic <br /> <br />-20- <br />