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Item 24 - Resol. and Donation Agree. for STEM Focused Amenities at Madison Park & Angels Community Park
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Item 24 - Resol. and Donation Agree. for STEM Focused Amenities at Madison Park & Angels Community Park
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City Clerk
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Clerk of the Council
Item #
24
Date
5/2/2023
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<br />Page 3 of 7 <br /> <br /> <br />(2) Primary Coverage: For any claims related to this contract, the Contractor’s <br />insurance coverage shall be primary coverage at least as broad as ISO CG 20 01 04 <br />13 as respects the City, its officers, officials, employees, and volunteers. Any <br />insurance or self-insurance maintained by the City, its officers, officials, employees, <br />or volunteers shall be excess of the Contractor’s insurance and shall not contribute <br />with it. <br /> <br />(3) Notice of Cancellation: Each insurance policy required above shall provide that <br />coverage shall not be canceled, except with notice to the City. <br /> <br />(4) Self-Insured Retentions: Self-insured retentions must be declared to and approved <br />by the City. The City may require the Contractor 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 City. <br /> <br />(5) 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 />A:VII, unless otherwise acceptable to the City. <br /> <br />(6) Claims Made Policies: If any of the required policies provide claims-made <br />coverage: <br /> <br />i. The retroactive date must be shown, and must be before the date of the <br />contract or beginning of contract work. <br /> <br />ii. Insurance must be maintained and evidence of insurance must be provided <br />for at least five (5) years after completion of contract work. <br /> <br />iii. 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 “extending reporting” coverage <br />for a minimum of five (5) years after completion of work. <br /> <br />(7) Verification of Coverage: Contractor shall furnish the City with original <br />Certificates of Insurance including all required amendatory endorsements (or copies <br />of the applicable policy language effecting coverage required by this clause) and a <br />copy of the Declarations and Endorsement Page of the CGL policy listing all policy <br />endorsements to City before work begins. However, failure to obtain the required <br />documents prior to the work beginning shall not waive the Contractor’s obligation to <br />provide them. <br />
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