Laserfiche WebLink
<br /> <br />5. Each insurance policy required herein shall provide that coverage shall not be <br />canceled, suspended, voided, reduced in coverage or in limits, non-renewed by the <br />carrier, or materiall y changed except after thirty (30) days prior written notice has <br />been given to Contractor. Ten (10) days prior written notice shall be provided to <br />Contractor for policy cancellation or non-renewal due to non-payment. <br />6. Certificate Holder on each Evidence of Insurance certificate shall be: City of Santa <br />Ana, Attention: Community Development Agency, Executive Director, 20 Civic <br />Center Plaza, M-25, Santa Ana, CA 92701. The name and location of the event <br />should be included in the Description of Operations section of each certificate. <br /> <br />Self-Insured Retentions <br />Self-insured retentions must be declared to and approved by the Contractor. Contractor may <br />require Subcontractor to purchase coverage with a lower retention or provide proof of ability <br />to pay losses and related investigations, claim administration, and defense expenses within <br />the retention. <br /> <br />Acceptability of Insurers <br />Insurance is to be placed with insurers authorized to conduct business in the state of <br />California with a current A.M. Best rating of no less than A:VII, unless otherwise acceptable <br />to Contractor. <br /> <br />Verification of Coverage <br />Subcontractor shall furnish Contractor with original Certificates of Insurance including all <br />required amendatory endorsements (or copies of the applicable policy language effecting <br />coverage required by this clause) and a copy of the Declarations and Endorsement Page of <br />the CGL policy listing all policy endorsements to Contractor before work begins. However, <br />failure to obtain the required documents prior to the work beginning shall not waive <br />Subcontractor’s obligation to provide them. Contractor reserves the right to require complete, <br />certified copies of all required insurance policies, including endorsements required by these <br />specifications, at any time. <br /> <br />Claims Made Policies <br />If any of the required policies provide coverage on a claims-made basis: <br />1. The retroactive date must be shown and must be before the date of the contract or the <br />beginning of work. <br />2. Insurance must be maintained and evidence of insurance must be provided for at least <br />three (3) years after completion of work. <br />3. If coverage is canceled or non-renewed, and not replaced with another claims-made policy <br />form with a retroactive date prior to the contract effective date, Company must purchase <br />“extended reporting” coverage for a minimum of three (3) years after completion of work. <br /> <br />Subcontractors <br />Subcontractor shall require and verify that all sub-contractors maintain insurance <br />meeting all the requirements stated herein, and Subcontractor shall ensure that <br />Contractor is an additional insured on insurance required from sub-contractors. <br /> <br />EXHIBIT 2