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officers, officials, employees, and volunteers. Any insurance or <br />self-insurance maintained by the City, its officers, officials, <br />employees, or volunteers shall be excess of the Consultant's <br />insurance and shall not contribute with it. <br />3. Notice of Cancellation- Each insurance policy required above <br />shall provide that coverage shall not be canceled, except with <br />notice to the City. <br />4. Waiver of Subrogation- The Consultant hereby grant to <br />Grantee a waiver of any right to subrogation which any insurer <br />of said Consultant may acquire against City by virtue of the <br />payment of any loss under such insurance. Consultant agrees to <br />obtain any endorsement that may be necessary to affect this <br />waiver of subrogation, but this provision applies regardless of <br />whether or not the City has received a waiver of subrogation <br />endorsement from the insurer. <br />5. Self -Insured Retentions- Self -insured retentions must be <br />declared to and approved by the City. The City may require the <br />Consultant to purchase coverage with a lower retention or <br />provide proof of ability to pay losses and related investigations, <br />claim administration, and defense expenses within the <br />retention. The policy language shall provide, or be endorsed to <br />provide, that the self -insured retention may be satisfied by <br />either the named insured or City. <br />6. Acceptability of Insurers- Insurance is to be placed with <br />insurers authorized to conduct business in the state with a <br />current A.M. Best's rating of no less than A:VII, unless <br />otherwise acceptable to the City. <br />7. Claims Made Policies (applicable only to professional liability, <br />see below)- If any of the required policies provide claims -made <br />coverage: <br />a. The Retroactive Date must be shown, and must be <br />before the date of the contract or the beginning of <br />contract work. <br />b. Insurance must be maintained and evidence of <br />insurance must be provided for at least five (5) years <br />after completion of the contract of work. <br />c. If coverage is canceled or non -renewed, and not <br />replaced with another claims -made policy form with a <br />Retroactive Date prior to the contract effective date, the <br />Consultant must purchase "extended reporting" <br />Page 4 of 10 <br />