Laserfiche WebLink
4. Professional Lrability(Frrors and Omissions) Insurance appropriates to the Contractors <br />profession, with limit no less than $2,000,000 per occurrence or claim, $2,000,000 <br />aggregate. <br />If the Contractor maintains broader coverage and/or higher limits than the minimums shown <br />above, the City requires and shall be entitled to the broader coverage and/or the higher limits <br />maintained by the contractor. Any available insurance proceeds in excess of the specified <br />minimum limits of insurance and coverage shall be available to the City. <br />Other Insurance Provisions <br />The insurance policies are to contain, or be endorsed to contain, the following provisions: <br />Additional Insured Status <br />The City, its officers, officials, employees, and volunteers are to be covered as additional <br />insureds on the CGL policy with respect to liability arising out of work or operations performed <br />by or on behalf of the Contractor including materials, parts, or equipment furnished in connection <br />with such work or operations. General liability coverage can be provided in the form of an <br />endorsement to the Contractor's insurance (at least as broad as ISO Form CG 20 10 11 85 or both <br />CG 20 10, CG 20 26, CG 20 33, or CG 20 38; and CG 20 37 fors if later revisions used). <br />Primary Coverage <br />Foi any claims related to this contract, the Contractor's insurance coverage shall be primary <br />insurance primary coverage at least as broad as ISO CG 20 01 04 13 as respects the City, its <br />officers, officials, employees, and volunteers. Any insurance or self-insurance maintained by the <br />City, its officers, officials, employees, or volunteers shall be excess of the Contractor's insurance <br />and shall not contribute with it. <br />Notice of Cancellation <br />Each insurance policy required above shall state that coverage shall not be canceled, except with <br />notice to the City, <br />Waiver of'Subrogation <br />Contractor hereby grants to City a waiver of any right to subrogation which any insurer of said <br />Contractor may acquire against the City by virtue of the payment of any loss under such insurance. <br />Contractor agrees to obtain any endorsement that may be necessary to affect this waiver of <br />subrogation, but this provision applies regardless of whether or not the City has received a waiver <br />of subrogation endorsement from the insurer. <br />Self Insured Retentions <br />Self -insured retentions must be declared to and approved by the City. The City may require the <br />Contractor to purchase coverage with a lower .retention or provide proof of ability to pay losses <br />and. related investigations, claim administration, and defense expenses within the retention. The <br />policy language shall provide, or be endorsed to provide, that the self -insured retention may be <br />satisfied by either the named insured or Entity. <br />Acceptability oflnsurers <br />Insurance is to be placed with insurers authorized to conduct business in the state with a current <br />A.M. Best's rating of no less than A:VII, unless otherwise acceptable to the Entity. <br />Claims Made Policdes <br />If any of the required policies provide coverage on a claims -made basis: <br />Page 4 of 10 <br />