MOORE LACOFANO, GOLTSMAN, INC. (2)

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3. Notice of Cancellation: each insurance policy required above shall provide that coverage shall not be canceled, except with notice to the City, 4. Waiver of Subrogation: Consultant hereby grants to City a waiver of any right to subrogation that any insurer of said Consultant may acquire against the City by virtue of the payment of any loss under such insurance. Consultant agrees to obtain any endorsement that may be necessary to affect this waiver of subrogation, but this provision, applies regardless of whether or not the City has received a waiver of subrogation endorsement from the insurer. 5. Self-Insured Retentions: Self-insured retentions must be declared to and approved by the City. The City may require the Consultant to ptjrclrase coverage with a lower retention or provide proof ol; ability to pay lMcs and related investigations, claim administration, and defense expenses within the retention. 'Tiro policy language shall provide, or be endorsed to provide, that the self-insured retention may be satisfied by either the named insured or City. 6. .A,cceptalrility of Insurers; Insurance is to be placed with insurers authorized to conduct business in the state with a currant AM, Best's rating of no loss than A:VII,unless otherwise acceptable to the City. 7. Claims Made Palicics (applicable wily to frofessiortal liability): i_ The Retroactive Date must be shown, and must be before the date of the contract or the beginning of contract work. ii. Insurance roust be, maintained and evidence of insurance must be provided for at least five (S) years after completion of the contract of work. iii. If coverage is canceled or non-renewed, and not replaced with another claifals-made policy forma wide a Retroactive ]date prior to the contract effective date, the Consultant must purchase "extended reporting" coverage for a minimum of five(5) years after completion of work, S, Verification of Coverage: Consultant shall furnish the City with original Certificates of insurance including all required rrrnorrdatory eadorsetnents (err copies of the applicable policy language effecting coverage ruqufred by this alausu)and a copy ofthe Deelarations and .Endorscrneat Page of the t:0 ,policy, listing all policy endorsements to City before work begins. However, failure to obtain the required documents prior to the work beginning shall not wlivo the Consultant's obligation to provide them. Tho City reserves the right to acquire complete, certified copies of all required insurance policies, including endorsements required by these specifications, at any time. 9. Sobcontractors: Consultant shall require and verify that all subeot t ctors rmllitaitr insurance :yieet.ing all the requirelnetrts stated hereln, and Consultant. 11r011 ensure that City is an additional insured on Insurance required from 4