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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 (5)
<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 />7. INDEMNIFICATION
<br />Consultant agrees to defend, and shall indemnify and hold harmless the City, its officers,
<br />agents, employees, contractors, special counsel, and representatives from liability: (1) for personal
<br />injury, damages, just compensation, restitution, judicial or equitable relief arising out of claims for
<br />personal injury, including death, and claims for property damage, which may arise from the
<br />negligent operations of the Consultant, its subcontractors, agents, employees, or other persons
<br />acting on its behalf which relates to the services described in section 1 of this Agreement; and (2)
<br />from any claim that personal injury, damages, just compensation, restitution, judicial or equitable
<br />relief is due by reason of the terms of or effects arising from this Agreement. This indemnity and
<br />hold harmless agreement applies to all claims for damages, just compensation, restitution, judicial
<br />or equitable relief suffered, or alleged to have been suffered, by reason of the events referred to in
<br />this Section or by reason of the terms of, or effects, arising from this Agreement. The Consultant
<br />further agrees to indemnify, hold harmless, and pay all costs for the defense of the City, including
<br />fees and costs for special counsel to be selected by the City, regarding any action by a third party
<br />challenging the validity of this Agreement, or asserting that personal injury, damages, just
<br />compensation, restitution, judicial or equitable relief due to personal or property rights arises by
<br />reason of the terms of, or effects arising from this Agreement. City may make all reasonable
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