Laserfiche WebLink
Self -Insured Retentions: Self -insured retentions must be declared to and <br />approved by the City. The City may require theConsultant to purchase coverage <br />with a lower retention or provide proof of ability to pay losses and related <br />investigations, claim administration, and defense expenses within the retention. <br />The policy language shall provide, or be endorsed to provide, that the self - <br />insured retention may be satisfied by either the named insured or City. <br />6. Acceptability of Insurers: Insurance is to be placed with insurers authorized <br />to conduct business in the state with a current A.M. Best's rating of no less <br />than A:VII, unless otherwise acceptable to the City. <br />7. Claims Made Policies: <br />If any of the required policies provide coverage on a claims -made basis: <br />i. The Retroactive Date must be shown, and must be before the date of the <br />contract or the beginning of contract work. <br />ii. Insurance must be maintained and evidence of insurance must be <br />provided far at least five (S) years after completion of the contract of <br />work. <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 Consultant must purchase "extended reporting" <br />coverage for a minimum of f ve (5) years after completion of work. <br />S. Verification of Coverage: Consultant shall furnish the City with a copy of the <br />Declarations and Endorsement Page of the CGL policy listing all policy <br />endorsements to City 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. <br />The City reserves the right to require complete, certified copies of all <br />endorsements required by these specifications, at any time. <br />9. Subcontractors: Consultant shall require and verify that all subcontractors <br />maintain insurance meeting all the requirements stated herein, and Consultant <br />shall ensure that City is an additional insured on insurance required from <br />subcontractors. <br />7. INDEMNIFICATION <br />a. Consultant agrees to defend, and shall indemnify and hold harmless the City, its <br />officers, agents, employees, contractors, special counsel, and representatives from <br />Page 6 of 12 <br />