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subrogation, but this provision applies regardless of whether or not the City has <br />received a waiver of subrogation endorsement from the insurer. <br />5. Self -Insured Retentions: Self -insured retentions inust be declared to and <br />approved by the City. The City may require the Consultant to purchase coverage <br />with a lower retention or provide proof of ability to pay losses and related <br />investigations, claim administration, and defense expenses within the retention. <br />The policy language shall provide, or be endorsed to provide, that the self - <br />insured retention may be 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 />ANII, unless otherwise acceptable to the City. <br />7. Claims Made Policies: If any of the required policies provide coverage on a <br />claims -made basis: <br />1. The Retroactive Date must be shown and must be before the date of the <br />contract or the beginning of contract work. <br />2. Insurance must be maintained and evidence of insurance must be <br />provided for at least five (5) years after completion of the contract of <br />work. <br />If coverage is canceled or non -renewed, and not replaced with another <br />claims -made policy form with a Retroactive Date prior to the contract <br />effective date, the Consultant must purchase "extended reporting" <br />coverage for a minimum of five (5) years after completion of contract <br />work. <br />8. Verification of Coverage: Consultant shall furnish the City with original <br />Certificates of Insurance including all required amendatory endorsements (or <br />copies of the applicable policy language effecting coverage required by this <br />clause) and a copy of the Declarations and Endorsement Page of the CGL policy <br />listing all policy endorsements to City before work begins. However, failure to <br />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 <br />complete, certified copies of all required insurance policies, including <br />endorsements required by these specifications, at any time. <br />9. Subcontractors: Consultant shall require and verify that all subcontractors <br />maintain insurance meeting all the requirements stated herein, and Consultant <br />shall ensure that City is an additional insured on insurance required from <br />subcontractors. <br />10. Special Risks or Circumstances: City reserves the right to modify these <br />requirements, including limits, based on the nature of the risk, prior experience, <br />insurer, coverage, or other special circumstances. <br />Page 4 of 10 <br />