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Each insurance policy required above shall provide that coverage shall provide thirty (30) days' prior <br />written notice of cancellation, except for non-payment of premium in which a ten (10) day notice shall <br />apply to LICENSOR. <br />Waiver of Subrogation <br />LICENSEE hereby grants to LICENSOR a waiver of any right to subrogation which the insurers for <br />the policies required above of said LICENSEE may acquire against LICENSOR by virtue of the <br />payment of any loss under such insurance. LICENSEE agrees to obtain any endorsement that may be <br />necessary to affect this waiver of subrogation, but this provision applies regardless of whether or not <br />LICENSOR has received a waiver of subrogation endorsement from the insurer. <br />Self -Insured Retentions <br />Self -insured retentions must be declared to by LICENSOR. LICENSOR may require LICENSEE to <br />purchase coverage with a lower retention or provide proof of ability to pay losses and related <br />investigations, claim 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 satisfied by either the <br />named insured or LICENSOR. <br />Acceptability of Insurers <br />Insurance is to be placed with insurers authorized to conduct business in the state with a current A.M. <br />Best's rating of no less than AXII, unless otherwise acceptable to LICENSOR. <br />Verification of Coverage <br />LICENSEE shall furnish LICENSOR with original Certificates of Insurance including all required <br />amendatory endorsements (or copies of the applicable policy language effecting coverage required by <br />this clause) and a copy of the Declarations and Endorsement Page of the CGL policy listing all policy <br />endorsements to LICENSOR before work begins. However, failure to obtain the required documents <br />prior to the work beginning shall not waive LICENSEE 's obligation to provide them. <br />LICENSOR reserves the right to review complete, copies of all required insurance policies, including <br />endorsements required by these specifications upon request and at a mutually agreeable location. <br />Special Risks or Circumstances <br />LICENSOR reserves the right to modify these requirements once per renewal term period, including <br />limits, based on the nature of risk, prior experience, insurer, coverage, or other special circumstances. <br />Page 107 of 107 <br />