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1. Acceptable Insurance <br /> All policies will be issued by insurers acceptable to the City. This insurance shall be issued by an <br /> insurance company or companies authorized to do business in the State of California with minimum <br /> "Best's" rating of B+ and with minimum policyholder surplus of Twenty-Five Million Dollars <br /> ($25,000,000) or a company acceptable to the City in its sole discretion.All policies shall be issued in <br /> a form satisfactory to the Risk Manager of the City and shall be issued specifically as primary <br /> insurance. Workers' Compensation coverage requirements may be met with the California State <br /> Compensation Fund. <br /> 2. Procure and Maintain Insurance <br /> The Consultant must, at its own cost and expense, procure and maintain at all times during the <br /> performance of this Agreement, all of the required policies specified above. The failure to procure <br /> or maintain the required insurance policies and/or an adequately funded self-insurance program <br /> acceptable to the City will constitute a material breach of the Agreement. <br /> 3. Terms of Policies <br /> All insurance specified above shall remain in force until all work to be performed is satisfactorily <br /> completed. If the insurance is provided on a claims-made basis, it must remain in force for the entire <br /> term of the Agreement and a minimum of three (3)years thereafter. <br /> 4. Self-Insurance <br /> Upon evidence of financial capacity satisfactory to the City and Consultant's agreement to waive <br /> subrogation against the City respecting any and all claims that may arise, the Consultant's obligations <br /> hereunder may be satisfied in whole or in part by adequately funded self-insurance. <br /> 5. Deductibles and Retentions <br /> The Consultant shall be responsible for payment of any deductible or retention on the Consultant's <br /> policies without right of contribution from the City. Deductible and retention provisions shall not <br /> contain any restrictions as to how or by whom the deductible or retention is paid.Any deductible or <br /> retention provision limiting payment to the Named Insured is unacceptable. <br /> In the event that the policy of the Consultant or any subcontractor contains a deductible or self-insured <br /> retention, and in the event that the City seeks coverage under such policy as an additional insured, the <br /> Consultant shall satisfy such deductible or self-insured retention to the extent of loss covered by such <br /> policy for a lawsuit arising from or connected with any alleged act or omission of the Consultant, <br /> subcontractor, or any of their officers, directors, employees, agents, or suppliers, even if the Consultant <br /> or subcontractor is not a named defendant in the lawsuit. <br /> C. Evidence of Insurance and Endorsements <br /> Prior to commencing work or entering onto the City's property, the Consultant shall file a Certificate of <br /> Insurance with the City evidencing the foregoing coverages, including the following endorsements: <br /> 1. The insurance company(ies) issuing such policy(ies)will provide at least thirty(30) days' <br /> notice to the City of cancellation or non-renewal. <br /> 2. That the policy(ies) is primary insurance and the insurance company(ies) providing such <br /> policy(ies) shall be liable thereunder for the full amount of any loss or claim that the Consultant <br />