13.1 The Contractor by this Agreement covenants with the Authority that it has at its own cost taken out, or procured the taking out of, professional indemnity insurance with reputable insurers carrying on business in the European Union with a limit of indemnity of not less than £[ ],000,000 ([ ] million pounds) [on an each and every claim basis][in the annual aggregate] with at least one annual reinstatement, in relation to the Works, provided always that:
13.2 such insurance shall be in place from the commencement of the Works until no less than 12 years after the Actual Completion Date or, if earlier, after the date of termination of the Construction Contract;
13.3 the insurance premiums in respect of the insurance shall at all times be the responsibility of the Contractor;
13.4 if such insurance is not available to the Contractor (and/or design and build contractors engaged in projects of a similar scope, size, nature and complexity as the Contractor) at commercially reasonable rates and terms (excluding any increase in premiums attributable to the actions, omissions, errors or defaults of the Contractor), the Contractor and the Authority will meet and the Contractor will outline the steps it intends to take to manage such risks. If the steps proposed by the Contractor are not acceptable to the Authority (acting reasonably), the Contractor and the Authority shall agree an alternative method of managing such risk.
13.5 The Contractor will, upon request, provide the Authority with reasonable evidence that the policy referred to in this Clause 13 (Professional Indemnity Insurance) is in full force and effect in accordance with the requirements of this Clause 13 (Professional Indemnity Insurance).