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ii. Primary Coverage <br />For any claims related to this contract, the Contractor's insurance coverage shall be <br />primary coverage at least as broad as ISO CG 20 0104 13 as respects the City, its <br />officers, officials, employees, and volunteers. Any insurance or self-insurance <br />maintained by the City, its officers, officials, employees, or volunteers shall be <br />excess of the Contractor's insurance and shall not contribute with it. <br />iii. Notice of Cancellation <br />Each insurance policy required above shall provide that coverage shall not be <br />canceled, except with notice to the City. <br />iv. Waiver of Subrogation <br />Contractor hereby grants to City a waiver of any right to subrogation which any <br />insurer of said Contractor may acquire against the City by virtue of the payment of <br />any loss under such insurance. Contractor agrees to obtain any endorsement that <br />may be necessary to affect this waiverof subrogation, but this provision applies <br />regardless of whether or not the City has received a waiver of subrogation <br />endorsement from the insurer. <br />V. Self -Insured Retentions <br />Self -insured retentions must be declared to and approved by the City. The Citymay <br />require theContractor to purchase coverage with a lower retention or provide proof <br />of ability to pay losses and related investigations, claim administration, and defense <br />expenses within the retention. The policy language shall provide, or be endorsed to <br />provide, that the self -insured retention may be satisfied by either the named insured <br />or City. <br />vi. Acceptability of Insurers <br />Insurance is to be placed with insurers authorized to conduct business in the state <br />with a current A.M. Best's rating of no less than A:VII, unless otherwise acceptable <br />to the City. <br />vii. Claims Made Policies <br />If any of the required policies provide claims -made coverage: <br />• The Retroactive Date must be shown, and must be before the date of the contract <br />or thebeginning of contract work. <br />• Insurance must be maintained and evidence of insurance must be provided for <br />at least five (5) years after completion of the contract of work. <br />• If coverage is canceled or non -renewed, and not replaced with another claims - <br />made policy form with a Retroactive Date prior to the contract effective date, <br />the Contractormust purchase "extended reporting" coverage for a minimum of <br />five (5) years after completion of work. <br />Page 4 of 10 <br />#257822v1 <br />