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<br />Page 13 of 19 <br />Primary Coverage <br /> <br />For any claims related to this contract, the Contractor’s insurance coverage shall be primary <br />coverage at least as broad as ISO CG 20 01 04 13 as respects the Entity, its officers, officials, <br />employees, and volunteers. Any insurance or self-insurance maintained by the Entity, its officers, <br />officials, employees, or volunteers shall be excess of the Contractor’s insurance and shall not <br />contribute with it. <br /> <br />Notice of Cancellation <br /> <br />Each insurance policy required above shall provide that coverage shall not be <br />canceled, except with notice to the Entity. <br /> <br />Waiver of Subrogation <br /> <br />Contractor hereby grants to Entity a waiver of any right to subrogation which any insurer <br />of said Contractor may acquire against the Entity by virtue of the payment of any loss under such <br />insurance. Contractor agrees to obtain any endorsement that may be necessary to affect this waiver <br />of subrogation, but this provision applies regardless of whether or not the Entity has received a <br />waiver of subrogation endorsement from the insurer. <br /> <br />Self-Insured Retentions <br /> <br />Self-insured retentions must be declared to and approved by the Entity. The <br />Entity may require the Contractor to purchase coverage with a lower retention or <br />provide proof of ability to pay losses and related investigations, claim administration, <br />and defense expenses within the retention. The policy language shall provide, or be <br />endorsed to provide, that the self-insured retention may be satisfied by either the named <br />insured or Entity. <br /> <br />Acceptability of Insurers <br /> <br />Insurance is to be placed with insurers authorized to conduct business in the state with a <br />current A.M. Best’s rating of no less than A:VII, unless otherwise acceptable to the Entity. <br /> <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 <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, the Contractor must purchase “extended reporting” coverage <br />for a minimum of five (5) years after completion of work. <br /> <br />EXHIBIT 2