CHARITABLE VENTURES OF ORANGE COUNTY, INC. (2)

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of subrogation but this provision applies regardless of whether or not the City has received a waiver of subrogation endorsement from the insurer. 5) Self -Insured Retentions- Self -insured retentions must be declared and approved by the City. The City may require the Consultant to purchase coverage with a lower retention or provide proof of ability to pay losses and related investigations, claims administration and defense expenses within the retention. The policy language shall provide or be endorsed to provide, that the self -insured retention may be satisfied by either the names inured or the City. 6) Acceptability of Insurers- Insurance is to be placed with insurers authorized to conduct business in the State of California with a current A.M. Best's rating of no less than A:VII, unless otherwise acceptable to the City. 7) Claims Made Policies- If any of the required policies provide coverage on a claims -made basis: i. The Retroactive Date must be shown and must be before the date of the agreement of the beginning of the agreement work; ii. Insurance must be maintained and evidence of insurance provided for at least five (5) years after completion of work under this agreement; iii. If coverage is canceled or non -renewed, and not replaced with another claims -made policy form with a Retroactive Date prior to the agreement effective date, the Consultant must purchase "extended reporting" coverage for a minimum of five (5) years after completion of agreement work. 8) Verification of Coverage- Consultant shall furnish to City with original certificates of Insurance including all required amendatory endorsements (or copies of the applicable policy language effective coverage required by this clause) and a copy of the Declarations and Endorsement Page of the CGL policy listing all policy endorsements to Entity before work begins. However, failure to obtain the required documents prior to work beginning shall not waive the Consultant's obligation to provide them. The City reserves the right to require complete, certified copies of all required insurance policies, including endorsements required by these specifications, at any time. 9) Subcontractors- Consultant shall require and verify that all subcontractors maintain insurance meeting all of the requirements stated herein. Contractor shall ensure that City is an additional insured on insurance required from subcontractors. 10) Special Risks or Circumstances- City reserves the right to modify these requirements, including limits, based upon the nature of the risk, prior experience, insurer, coverage or other special circumstances. Page 5 of 13