(a) The Owner Participant must effect a professional indemnity insurance policy in the names of the Owner Participant, the NOPs and any Subcontractors providing professional services.
(b) This insurance must include a limit of liability of no less than $[insert] for any one claim and $[insert] in the aggregate in relation to claims by Third Parties, and be in the name of the NOPs and the Subcontractors providing professional services and endorsed to indemnify the Project Owner as a co-insured.
(c) This insurance must be arranged so that it came comes into effect on [insert date] and be effected and maintained for a period of 6 years from the date of inception of the insurance policy.
(d) Prior to the issue of the Final Certificate under 11.1, the ALT must meet and determine what, if any, insurance arrangements are to be put in place to address the risks of claims arising following the expiration of the 6 year period. As part of this process, the ALT will consider whether any amendments are required to this Agreement to give effect to those agreed insurance arrangements. If the ALT determines that additional insurance is required or the current policy should be renewed or extended, any costs associated with effecting and maintaining that additional insurance or extension or renewal of the current policy will be Reimbursable Costs and the amount of the costs must be added to the TOC so that the TOC is increased for the purposes of the calculation of any Gainshare Amount or Painshare Amount (if any and as the case may be) under the Risk or Reward Regime.