Laserfiche WebLink
Primary Coverage <br />For any claims related to this contract, the Contractor's insurance coverage shall be primary <br />coverage at least as broad as ISO CG 20 01 04 13 as respects the Entity, its officers, officials, <br />employees, and volunteers, Any insurance or self-insurance maintained by the Entity, its officers, <br />officials, employees, or volunteers shall be excess of the Contractor's insurance and shall not <br />contribute with it. <br />Notice of Cancellation <br />Each insurance policy required above shall provide that coverage shall not be <br />canceled, except with notice to the Entity. <br />Self -insured retentions must be declared to and approved by the Entity. The <br />Entity may require the Contractor to purchase coverage with a lower retention or <br />provide proof of ability to pay losses and related investigations, claim administration, <br />and defense expenses within the retention. The policy language shall provide, or be <br />endorsed to provide, that the self -insured retention may be satisfied by either the named <br />insured or Entity. <br />Acceptability of Insurers <br />Insurance is to be placed with insurers authorized to conduct business in the state with a <br />current A.M. Best's rating of no less than A:VII, unless otherwise acceptable to the Entity. <br />Claims Made Policies (note — should be applicable only to professional liability, see below) <br />If any of the required policies provide claims -made coverage: <br />1. The Retroactive Date must be shown, and must be before the date of the <br />contract or thebeginning of contract work, <br />Z Insurance must be maintained and evidence of insurance must be provided <br />for at least five (5) years after completion of the contract of work. <br />3. 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 Contractormust purchase "extended reporting" coverage <br />for a minimum of five (5) years after completion of work. <br />Page 13 of 19 <br />