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Acceptability of Insurers
<br />Insurance is to be placed with insurers 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 the City.
<br />Claims Made Policies (note — should be applicable only to professional liability, see below)
<br />If any of the required policies provide claims -made coverage:
<br />1. The Retroactive Date must be shown, and must be before the date of the contract or the beginning of
<br />contract work.
<br />2. Insurance must be maintained and evidence of insurance must be provided for at least five (5) years
<br />after completion of the contract of work.
<br />3. If coverage is canceled or non -renewed, and not replaced with another claims -made policy form with
<br />a Retroactive Date prior to the contract effective date, the Company must purchase "extended
<br />reporting" coverage for a minimum of five (5) years after completion of work.
<br />Verification of Coverage
<br />Company shall furnish the City with original Certificates of Insurance including all required amendatory
<br />endorsements (or copies of the applicable policy language effecting coverage requiredby this clause) and a
<br />copy of the Declarations and Endorsement Page of the CGL policy listing allpolicy endorsements to City
<br />before work begins. However, failure to obtain the required documents prior to the work beginning shall
<br />not waive the Company's obligation to provide them.
<br />The City reserves the right to require complete, certified copies of all required insurance policies, including
<br />endorsements required by these specifications, at any time.
<br />Special Risks or Circumstances
<br />City reserves the right to modify these requirements, including limits, based on the nature of the risk, prior
<br />experience, insurer, coverage, or other special circumstances.
<br />9. INDEMNIFICATION
<br />Company agrees to defend, and shall indemnify and hold harmless the City, its officers, agents,
<br />employees, contractors, special counsel, and representatives from liability: (1) for personal injury,
<br />damages, just compensation, restitution, judicial or equitable relief arising out of claims for personal
<br />injury, including death, and claims for property damage, which may arise from the negligent operations
<br />of the Company, its subcontractors, agents, employees, or other persons acting on its behalf which relates
<br />to the services described in section 1 of this Agreement; and (2) from any claim that personal injury,
<br />damages, just compensation, restitution, judicial or equitable relief is due by reason of the terms of or
<br />effects arising from this Agreement. This indemnity and hold harmless agreement applies to all claims for
<br />damages, just compensation, restitution, judicial or equitable relief suffered, or alleged to have been
<br />suffered, by reason of the events referred to in this Section or by reason of the terms of, or effects, arising
<br />from this Agreement. The Company further agrees to indemnify, hold harmless, and pay all costs for the
<br />defense of the City, including fees and costs for special counsel to be selected by the City, regarding any
<br />action by a third party challenging the validity of this Agreement, or asserting that personal injury,
<br />damages,just compensation, restitution, judicial or equitable relief due to personal or property rights arises
<br />by reason of the terms of, or effects arising from this Agreement. City may make all reasonable decisions
<br />with respect to its representation in any legal proceeding. Notwithstanding the foregoing, to the extent
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