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whether or not the City has received a waiver of subrogation endorsement <br />from the insurer. <br />D. Self -Insured Retentions- Self -insured retentions must be declared to and approved <br />by the City. The City may require ICMA-RC to purchase coverage with a lower <br />retention or provide proof of ability to pay losses and related investigations, claim <br />administration, and defense expenses within the retention. The policy language <br />shall provide, or be endorsed to provide, that the self -insured retention may be <br />satisfied by either the named insured or Entity. <br />E. Acceptability of Insurers- Insurance is to be placed with insurers authorized to <br />conduct business in the state with a current A.M. Best's rating of no less than <br />ANII, unless otherwise acceptable to the Entity. <br />F. Claims Made Policies- If any of the required policies provide coverage on a <br />claims -made basis: <br />1) The Retroactive Date must be shown and must be before the date of the <br />contract or the beginning of contract work. <br />2) Insurance must be maintained and evidence of insurance must be provided <br />for at least five (5) years after completion of the contract of work. <br />3) If coverage is canceled or non -renewed, and not replaced with another <br />claims -made policy form with a Retroactive Date prior to the contract <br />effective date, ICMA-RC must purchase "extended reporting" coverage <br />for a minimum of five (5) years after completion of contract work. <br />G. Verification of Coverage- ICMA-RC shall furnish the City with original <br />Certificates of Insurance including all required amendatory endorsements (or <br />copies of the applicable policy language effecting coverage required by this <br />clause) and a copy of the Declarations and Endorsement Page of the CGL policy <br />listing all policy endorsements to City before work begins. However, failure to <br />obtain the required documents prior to the work beginning shall not waive ICMA- <br />RC's obligation to provide them. The City reserves the right to require complete, <br />certified copies of all required insurance policies, including endorsements <br />required by these specifications, at any time. <br />2. Except as modified by this Fifth Amendment, all terms and conditions of the Agreement shall <br />remain in full force and effect. <br />Page 3 of 4 <br />