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Self-Insured Retentions <br /> Self-insured retentions must be declared to and approved by the City. The City may require the <br /> Subcontractor 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. <br /> Acceptability oflnsurers <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:Vll,unless otherwise acceptable to the City. <br /> Verification of Coverage <br /> Subcontractor shall furnish the City with original certificates and amendatory endorsements (or <br /> copies of the applicable policy language effecting coverage required by this clause)and a copy of <br /> the Declarations and Endorsement Page of the CGL policy listing all policy endorsements to the <br /> City before work begins. However, failure to obtain the required documents prior to the work <br /> beginning shall not waive the Subcontractor's obligation to provide them. The City reserves the <br /> right to require complete, certified copies of all required insurance policies, including <br /> endorsements required by these specifications,at any time. <br /> Claims Made Policies <br /> If any of the required policies provide claims-made coverage: <br /> 1.The retroactive date must be drown,and must be before the date of the contract or the beginning <br /> of contract work, <br /> 2. Insurance must be maintained and evidence of insurance must be provided for at leant three(3) <br /> years after completion of the contract of work <br /> 3.If coverage is canceled or non-renewed,and not replaced with another claints-madepolkyform <br /> with a retroactive date prior to the contract effective date, the Subcontractor must purchase <br /> "extended reporting"coverage for a minimum of three(3)years after completion of work. <br /> Subcontractors <br /> Subcontractor shall require and verify that all stab-contractors maintain insurance meeting all the <br /> requirements stated herein,and Subcontractor shall ensure that the City is an additional insured on <br /> insurance required from stab-contractors. <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 /> Subcontractor agrees to defend, and shall indemnify and hold harmless the City, its <br /> officers,agents,employees,contractors,special counsel,and representatives from liability.(1)for <br /> personal injury, damages,just compensation,restitution,judicial or equitable relief arising out of <br /> Page 5 of 10 <br /> #2448Q88vI <br />