2.1 The Consultant shall maintain throughout the duration of provision of the Services and for a period of 12 years after the date of practical completion or its equivalent under the Construction Contract, professional indemnity insurance in an amount of not less than [ ] million pounds (£[ ],000,000) sterling on an each and every claim basis and for any one occurrence or series of occurrences arising out of any one event with insurer of good repute carrying on business in the European Union provided always that such insurance is available at rates which are commercially reasonable to consultants.
2.2 In determining whether or not insurance is available as aforesaid, the financial characteristics and claims' record of the Consultant shall be ignored.
2.3 The Consultant shall immediately inform the Beneficiary if such insurance ceases to be available at rates which are commercially reasonable in order that the Consultant and the Beneficiary can consider alternative means of best protecting their respective positions in respect of the Project in the absence of such insurance provided that the Beneficiary shall be entitled to require the Consultant to maintain such lesser amount of Professional Indemnity Insurance as is available to the Consultant at rates which are commercially reasonable.
2.4 As and when it is reasonably requested to do so by the Beneficiary the Consultant shall produce for inspection documentary evidence satisfactory to the Beneficiary (acting reasonably) that its Professional Indemnity Insurance is being maintained.
2.5 The Consultant confirms that this Agreement has been disclosed to and has been approved by the Consultant's Professional Indemnity Insurers or Underwriters.
2.6 Should the Consultant be in breach of any of its obligations under this Clause 2 (Insurance), the Beneficiary may itself insure against any risk with respect to which the breach shall have occurred and may recover such sum or sums from the Consultant as a debt.