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Item 32 - Depository Banking Services
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12/21/2021 Regular
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Item 32 - Depository Banking Services
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City Clerk
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Agenda Packet
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Clerk of the Council
Item #
32
Date
12/21/2021
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intellectual property, including but not limited to infringement of <br />copyright, trademark, trade dress, invasion of privacy violations, <br />information theft, damage to or destruction of electronic information, <br />release of private information, and alteration of electronic <br />information. The policy shall provide coverage for breach response <br />costs, regulatory fines and penalties as well as credit monitoring <br />expenses. <br /> <br />If the Contractor maintains broader coverage and/or higher limits than the <br />minimums shown above, the City requires and shall be entitled to the broader <br />coverage and/or the higher limits maintained by the Contractor. Any available <br />insurance proceeds in excess of the specified minimum limits of insurance and <br />coverage shall be available to the City. <br />b. Other Insurance Provisions <br /> <br />1. Additional Insured Status: The City, its officers, officials, employees, <br />and volunteers are to be covered as additional insureds on the CGL policy <br />with respect to liability arising out of work or operations performed by or <br />on behalf of the Contractor including materials, parts, or equipment <br />furnished in connection with such work or operations. General liability <br />coverage can be provided in the form of an endorsement to the Contractor’s <br />insurance (at least as broad as ISO Form CG 20 10 11 85 or if not available, <br />through the addition of both CG 20 10, CG 20 26, CG 20 33, or CG 20 38; <br />and CG 2037 if a later edition is used). <br /> <br />2. Primary Coverage: For any claims related to this contract, the <br />Contractor’s insurance coverage shall be primary coverage at least as broad <br />as ISO CG 20 01 04 13 as respects the City, its officers, officials, <br />employees, and volunteers. Any insurance or self - insurance maintained by <br />the City, its officers, officials, employees, or volunteers shall be excess of <br />the Contractor’s insurance and shall not contribute with it. <br /> <br />3. Notice of Cancellation: Each insurance policy required above shall <br />provide that coverage shall not be canceled, except with notice to the City. <br /> <br />4. Waiver of Subrogation: Contractor hereby grants to City a waiver of any <br />right to subrogation that any insurer of said Contractor may acquire against <br />the City by virtue of the payment of any loss under such insurance. <br />Contractor agrees to obtain any endor sement that may be necessary to <br />affect this waiver of subrogation, but this provision applies regardless of <br />whether or not the City has received a waiver of subrogation endorsement <br />from the insurer. <br /> <br />5. Self-Insured Retentions: Self-insured retentions must be declared to and <br />approved by the City. The City may require the Contractor to purchase <br />coverage with a lower retention or provide proof of ability to pay losses <br />and related investigations, claim administration, and defense expenses <br />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 <br />insured or City. <br /> <br /> <br /> <br />Page 3 of 6
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