64.11  Professional Indemnity Insurance186

Except for clauses 64.1 (Requirement to Maintain), 64.2 (Obligation on Parties), 64.4 (Evidence of Policies), and 64.5 (Renewal Certificates) the previous provisions of this clause 64 (Insurance) shall not apply to Professional Indemnity Insurance of the Building Contractor and any guarantor of the Building Contractor ("PI Insurance") and in respect of PI Insurance the Contractor undertakes, (and agrees to procure that its sub-contractor(s) undertake(s)) to:

64.11.1  provide evidence satisfactory to the Authority (as and when reasonably required by the Authority) of the PI Insurance being in full force and effect from the date of this Agreement (such evidence to include details of the cover) including confirmation of territorial limits, indemnity limit (which shall be a minimum of [ten million pounds (£10,000,000)] for any occurrence or series of occurrences arising out of each and every event in the aggregate in any one (1) year of insurance with a minimum of one (1) automatic reinstatement of the aggregate indemnity limit in any one (1) year of insurance), levels of excess, insurers and policy number);

64.11.2  provide the Authority with copies of all notices under the PI Insurance relative to the Project;

64.11.3  provide the Authority with notice of:

(a)  any cancellation of the PI Insurance not less than ninety (90) Business Days prior to the relevant cancellation date;

(b)  any material changes to or suspension of cover relevant to the Project not less than twenty (20) Business Days prior to the relevant change or suspension;

(c)  any event of which it becomes aware, or of which it could reasonably be expected to become aware, which may vitiate the PI Insurance;

(d)  any act, omission or event which may adversely affect the terms and scope of the PI Insurance relevant to the Project or invalidate or render it unenforceable;

64.11.4  provide such information to the Authority as the Authority may reasonably require in relation to any claim or circumstance notified to it under the PI Insurance in respect of the Project and any potential breach of the aggregate limit of the policy;

64.11.5  disclose to the relevant insurers:

64.11.5.1  any matters which could reasonably be expected to be material in the context of the Project; and

64.11.5.2  any of the other insurances required to be maintained under this clause 64 (Insurance);

64.11.6  indemnify the Authority in respect of any subrogation claim by the insurers brought in connection with any claim made under the PI Insurance; and

64.11.7  include the interests (if any) of the Authority in any claim or circumstances notified under the PI Insurance relative to the Project and provide a copy of such notification to the Authority.

_________________________________________________________________________________

186 Not to be a Required Insurance.