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or volunteers shall be excess of the Provider's insurance and shall not contribute <br />with it. <br />3. Notice of Cancellation: Each insurance policy required above shall provide that <br />coverage shall not be canceled, except with notice to the City. <br />4. Waiver of Subrogation: Provider hereby grants to City a waiver of any right to <br />subrogation that any insurer of said Provider may acquire against the City by virtue <br />of the payment of any loss under such insurance. Provider agrees to obtain any <br />endorsement that may be necessary to affect this waiver of subrogation, but this <br />provision applies regardless of whether or not the City has received a waiver of <br />subrogation endorsement from the insurer. <br />Self -Insured Retentions: Self -insured retentions must be declared to and approved <br />by the City. The City may require the Provider to purchase coverage with a lower <br />retention or provide proof of ability to pay losses and related investigations, claim <br />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 <br />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 />A: VII, unless otherwise acceptable to the City. <br />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 <br />be before the date of the contract or the <br />beginning of contract work. <br />2. Insurance must be maintained and evidence of <br />insurance must be provided for at least five (5) <br />years after completion of the contract of work. <br />If coverage is canceled or non -renewed, and <br />not replaced with another claims -made policy <br />form with a Retroactive Date prior to the <br />contract effective date, the Consultant must <br />purchase "extended reporting" coverage for a <br />minimum of five (5) years after completion of <br />work. <br />8. Verification of Coverage: Provider shall furnish the City with original Certificates <br />of Insurance including all required amendatory endorsements (or copies of the <br />applicable policy language effecting coverage requiredby this clause) and a copy of <br />