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regardless of whether or not the City has received a waiver of <br />subrogation endorsement from the insurer. <br />vii. Self -Insured Retentions- Self -insured retentions must be declared <br />to and approved by the City. The City may require TRF to <br />purchase coverage with a lower retention or provide proof of <br />ability to pay losses and related investigations, claim <br />administration, and defense expenses within the retention. The <br />policy language shall provide, or be endorsed to provide, that the <br />self -insured retention may be satisfied by either the named insured <br />or City. <br />viii. Acceptability of Insurers- Insurance is to be placed with insurers <br />authorized to conduct business in the state with a current A.M. <br />Best's rating of no less than A: VII, unless otherwise acceptable to <br />the City. <br />ix. Claims Made Policies- If any of the required policies provide <br />claims -made coverage: <br />1. The Retroactive Date must be shown, and must be before <br />the date of the contract or the beginning of contract work. <br />2. Insurance must be maintained and evidence of insurance <br />must be provided for at least five (5) years after completion <br />of the contract of work. <br />3. If coverage is canceled or non -renewed, and not replaced <br />with another claims -made policy form with a Retroactive <br />Date prior to the contract effective date, TRF must <br />purchase "extended reporting" coverage for a minimum of <br />five (5) years after completion of work. <br />x. Verification of Coverage- TRF shall furnish the City with original <br />Certificates of Insurance including all required amendatory <br />endorsements (or copies of the applicable policy language <br />effecting coverage required by this clause) and a copy of the <br />Declarations and Endorsement Page of the CGL policy listing all <br />policy endorsements to City before work begins. However, failure <br />to obtain the required documents prior to the work beginning shall <br />not waive TRF's obligation to provide them. <br />xi. The City reserves the right to require complete, certified copies of <br />all required insurance policies, including endorsements required by <br />these specifications, at any time. <br />xii. Special Risks or Circumstances- The City reserves the right to <br />modify these requirements, including limits, based on the nature of <br />the risk, prior experience, insurer, coverage, or other special <br />circumstances. <br />Facilities Use Agreement With Training and Research Foundation <br />