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AGREEMENT FOR PERFORMER WITH A MANAGER OR AGENT <br />or volunteers shall be excess of the Contractor's insurance and shall not contribute <br />with it. <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 />(4) Waiver of Subrogation. Contractor hereby grants to City a waiver of any right to <br />subrogation that any insurer of said Contractor may acquire against the City by <br />virtue of the payment of any loss under such insurance. Contractor agrees to obtain <br />any endorsement that may be necessary to affect this waiver of subrogation, but this <br />provision applies regardless of whether or not the City has received a waiver of <br />subrogation endorsement from the insurer. <br />(5) 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 />(6) 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 />(7) Claims Made Policies. If any of the required policies provide claims -made <br />coverage: <br />The retroactive date must be shown, and must be before the date of <br />the contract or the beginning of contract work. <br />ii. Insurance must be maintained and evidence of the insurance must <br />be provided for at least five (5) years after completion of the <br />contract of work. <br />iii. If coverage is canceled or non -renewed, and not replaced with <br />another claims -made policy form with a retroactive date prior <br />to the contract effective date, the Contractor must purchase <br />"extended reporting" coverage for a minimum of five (5) years after <br />completion of work. <br />(8) 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 requiredby 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 />Page 4 of 9 <br />