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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 A:VII, 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 67 of 67 <br />