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Waiver of Subrogation <br />Consultant hereby grants to City a waiver of any right to subrogation which any insurer of said <br />Consultant may acquire against the City by virtue of the payment of any loss under such insurance. <br />Consultant 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 />Consultant 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 City. <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 A:VII, unless otherwise acceptable to the City. <br />Claims Made Policies <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 contract or the <br />beginning of contract work. <br />2. Insurance must be maintained and evidence of insurance must be provided for at least five (S) <br />years after completion of the contract of work. <br />3. If coverage is canceled or non -renewed, and not replaced with another claims -made policy form <br />with a Retroactive Date prior to the contract effective date, the Consultant must purchase <br />"extended reporting" coverage for a minimum of five (5) years after completion of work. <br />Verification of Coverage <br />Consultant shall furnish the City with original certificates and amendatory endorsements or copies <br />of the applicable policy language effecting coverage required by this clause. All certificates and <br />endorsements are to be received and approved by the City before work commences. However, <br />failure to obtain the required documents prior to the work beginning shall not waive the <br />Consultant's obligation to provide them. The City reserves the right to require complete, certified <br />copies of all required insurance policies, including endorsements required by these specifications, <br />at any time. <br />Special Risks or Circumstances <br />City reserves the right to modify these requirements, including limits, based on the nature of the <br />risk, prior experience, insurer, coverage, or other special circumstances. <br />11 <br />