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EMPOWER ANNUITY INSURANCE COMPANY
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EMPOWER ANNUITY INSURANCE COMPANY
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Last modified
8/19/2024 4:00:40 PM
Creation date
10/9/2023 9:49:41 AM
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Contracts
Company Name
EMPOWER ANNUITY INSURANCE COMPANY
Contract #
A-2023-164
Agency
Finance & Management Services
Council Approval Date
9/19/2023
Expiration Date
9/30/2023
Insurance Exp Date
12/1/2024
Destruction Year
2028
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Other Insurance Provisions <br />The insurance policies are to contain, or be endorsed to contain, the following provisions: <br />Additional Insured Status <br />The City, its officers, officials, employees, and volunteers are to be covered as additional insureds on the <br />CGL policy with respect to liability from the work or operations performed by Empower including materials, <br />parts, or equipment furnished in connection with such work or operations. General liability coverage can be <br />provided in the form of an endorsement to Empower's insurance. <br />Primary Coverage <br />For any CGL claims related to this contract, Empower's insurance coverage shall be primary coverage as <br />respects the City, its officers, officials, employees, and volunteers. Any insurance or self-insurance <br />maintained by the City, its officers, officials, employees, or volunteers shall be excess of Empower's <br />insurance and shall not contribute with it. <br />Notice of Cancellation <br />Upon written request, Empower will offer proof of insurance renewal or extension within 30 days following <br />the expiration date of any of the policies required. Such certificate(s) shall suffice as evidence that required <br />insurance is maintained. <br />Waiver of Subrogation <br />Empower hereby grants to City a waiver of any right to subrogation which any insurer of Empower may <br />acquire against the City by virtue of the payment of any loss under such insurance. Empower agrees to <br />obtain any endorsement that may be necessary to affect this waiver of subrogation, but this provision <br />applies regardless of whether or not the City has received a waiver of subrogation endorsement from the <br />Insurer. <br />Self -insured Retentions <br />Self -insured retentions must be declared to the City. The City may require the Consultant to provide proof <br />of ability to pay losses and related investigations, claim administration, and defense expenses within the <br />retention. The policy language shall provide, or be endorsed to provide, that the self -insured retention may <br />be 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 />m <br />City Council 19 — 99 9/19/2023 <br />
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