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insurer of said Consultant may acquire against the Entity by virtue of the payment of <br />any loss under such insurance. Consultant agrees to obtain any endorsement that may <br />be necessary to affect this waiverof subrogation, but this provision applies regardless of <br />whether or not the Entity has received a waiver of subrogation endorsement from the <br />insurer. <br />Self -Insured Retentions <br />Self -insured retentions must be declared to and approved by the Entity. The Entity may <br />require theConsultant to purchase coverage with a lower retention or provide proof of <br />ability to pay losses and related investigations, claim administration, and defense <br />expenses within the retention. The policy language shall provide, or be endorsed to <br />provide, that the self -insured retention may be satisfied by either the named insured or <br />Entity. <br />Acceptability of Insurers <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 ANII, unless otherwise acceptable to the Entity. <br />Claims Made Policies <br />If any of the required policies provide coverage on a claims -made basis: <br />1. The Retroactive Date must be shown and must be before the date of the contract <br />or the beginning of contract work. <br />2. Insurance must be maintained and evidence of insurance must be provided for at least five <br />(S) years after completion of the contract of work. <br />3. If coverage is canceled or non -renewed, and not replaced with another claims - <br />made policyform with a Retroactive Date prior to the contract effective date, <br />the Consultant must purchase "extended reporting" coverage for a minimum of <br />five (5) years after completion of contract work. <br />Verification of Coverage <br />Consultant shall furnish the Entity with original Certificates of Insurance <br />including all required amendatory endorsements (or copies of the applicable <br />policy language effecting coverage requiredby this clause) and a copy of the <br />Declarations and Endorsement Page of the CGL policy listing all policy <br />endorsements to Entity before work begins. However, failure to obtain the <br />required documents prior to the work beginning shall not waive the Consultant's <br />obligation to provide them. The Entity reserves the right to require complete, <br />certified copies of all required insurance policies, including endorsements <br />required by these specifications, at any time. <br />Subcontractors <br />Consultant shall require and verify that all subcontractors maintain insurance meeting <br />all the requirements stated herein, and Contractor shall ensure that Entity is an <br />additional insured on insurance required from subcontractors. <br />Special Risks or Circumstances <br />Entity reserves the right to modify these requirements, including limits, based on the <br />nature of therisk, prior experience, insurer, coverage, or other special circumstances. <br />Page 4 of 10 <br />