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<br />Self-Insured Retentions <br />Self-insured retentions must be declared to and approved by the City. The City may require the <br />Consultant to purchase coverage with a lower retention or provide proof of ability to pay losses <br />and related investigations, claim administration, and defense expenses within the retention. The <br />policy language shall provide, or be endorsed to provide, that the self-insured retention may be <br />satisfied by either the named insured or City. <br />Acceptability of Insurers <br />Insurance is to be placed with insurers authorized to conduct business in the state with a current <br />A.M. Best’s rating of no less than A:VII, unless otherwise acceptable to the City. <br />Claims Made Policies <br />If any of the required policies provide coverage on a claims-made basis: <br />a. The Retroactive Date must be shown and must be before the date of the contract or the <br />beginning of contract work. <br />b. Insurance must be maintained and evidence of insurance must be provided for at least five <br />(5) years after completion of the contract of work. <br />c. 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, the Consultant must <br />purchase “extended reporting” coverage for a minimum of five (5) years after completion <br />of contract work. <br />Verification of Coverage <br />Consultant shall furnish the City with original Certificates of Insurance including all required <br />amendatory endorsements (or copies of the applicable policy language effecting coverage <br />required by this 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 obtain the <br />required documents prior to the work beginning shall not waive the Consultant’s obligation to <br />provide them. The City reserves the right to require complete, certified copies of all required <br />insurance policies, including endorsements required by these specifications, at any time. <br />Subcontractors <br />Consultant shall require and verify that all subcontractors maintain insurance meeting all the <br />requirements stated herein, and Contractor shall ensure that City is an additional insured on <br />insurance required from subcontractors. <br />Special Risks or Circumstances <br />City reserves the right to modify these requirements, including limits, based on the nature of the <br />risk, prior experience, insurer, coverage, or other special circumstances. <br />7.INDEMNIFICATION <br />Consultant agrees to defend, and shall indemnify and hold harmless the City, its officers, <br />agents, employees, contractors, special counsel, and representatives from liability: (1) for personal <br />injury, damages, just compensation, restitution, judicial or equitable relief arising out of claims for <br />4