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Acceptability gflnsurers Insurance is to be placed with insurers authorized to conduct business in the state with a current A.M. Best's rating of no less than A:ViI, unless otherwise acceptable to the City. Claims Marie 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 contract or the beginning of contract work. 2. Insurance must be maintained and evidence of insurance must be provided for at Least five (5) years after completion of the contract of work, 3. If coverage is canceled or non -renewed, and not replaced with anotller-etaims-made policyform with a Retroactive Date prior to the contract effective date, the Consultant must purchase "extended reporting" coverage for a minimum of five (5) years after completion of contract work. Verification of.Coverage Consultant shall fumish the City with original Certificates of Insurance including all required amendatory endorsements (or copies of the applicable policy language effecting coverage required by this clause) and a copy of the Declarations and Endorsement Page of the CGG policy listing all policy endorsements to City before work begins. However, failure to obtain the required documents prior to the 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. Subcontractors Consultant shall require and verify that all subcontractors maintain insurance meeting all the requirements stated herein, and Contractor shall ensure that City is an additional insured on insurance required from subcontractors, Special Risks or Circumstances City reserves the right to modify these requirements, including limits, based on the nature of the risk, prior experience, insurer, coverage, or other special circumstances, Please acknowledge your understanding and agreement regarding the terms of this engagement as described in this letter, by signing in the space provided below and returning it to Cornerstone Communications, P.O. Box 10246, Newport Beach, CA, 92658. Bill Rams Cornerstone Communications 9840 Research, Suite 200, Irvine CA, 92618 (949)200-6107 Agreed and accepted this _ day of November 2022