2.  Professional indemnity insurance

2.1  The Surveyor warrants to the Beneficiary that there is in force a policy of professional indemnity insurance covering his liabilities for negligence under the Appointment and this Deed, with a limit of indemnity of not less than £[10,000,000.00] and an excess of a level commensurate with that which would normally be expected for an entity of the size and nature of the surveyor for any occurrence or series of occurrences arising out of each and every event. The Surveyor agrees to maintain such insurance with an insurer of good repute at all times until 12 years after the completion of the Surveyor's services under the Appointment (or if earlier until 12 years after the termination of his employment under the Appointment), provided such insurance is available on commercially reasonable terms having regard (inter alia) to premiums required and policy terms obtainable.  Any increase in premiums due to the Surveyor's adverse claims record shall (for the purposes of this Deed) be ignored for the purposes of determining whether or not insurance is available on commercially reasonable terms.

2.2  If for any period such insurance is not available on commercially reasonable terms, the Surveyor shall forthwith inform the Beneficiary, and shall obtain in respect of such period such reduced level of professional indemnity insurance as is available and as would be fair and reasonable in the circumstances for the Surveyor to obtain.

2.3  Whenever reasonably required to do so by the Beneficiary, the Surveyor shall provide to the Beneficiary documentary evidence that the insurance required hereunder is being maintained.