Laserfiche WebLink
Consultant shall maintain on each employee a minimum $1 million fidelity bond. <br />4.5 All Policies Requirements. <br />4.5.1 Acceptability of insurers. All insurance required by this section is to be placed <br />with insurers with a Bests' rating of no less than A:VII. <br />4.5.2 Verification of coverage. Prior to beginning any work under this Agreement, <br />Consultant shall furnish City with complete certified copies of all policies, including <br />complete certified copies of all endorsements. All copies of policies and certified <br />endorsements shall show the signature of a person authorized by that insurer to <br />bind coverage on its behalf. <br />4.5.3 Notice of Reduction in or Cancellation of Coverage. A certified endorsement <br />shall be attached to all insurance obtained pursuant to this Agreement stating that <br />coverage shall not be suspended, voided, canceled by either party, or reduced in <br />coverage or in limits, except after thirty (30) days" prior written notice by certified <br />mail, return receipt requested, has been given to the City. In the event that any <br />coverage required by this section is reduced, limited, cancelled, or materially <br />affected in any other manner, Consultant shall provide written notice to City at <br />Consultant's earliest possible opportunity and in no case later than ten (10) <br />working days after Consultant is notified of the change in coverage. <br />A certified endorsement shall be attached to all policies stating that coverage is <br />primary insurance with respect to the City and its officers, officials, employees and <br />volunteers, and that no insurance orself-insurance maintained by the City shall be <br />called upon to contribute to a loss under the coverage. <br />4.5.5 Deductibles and Self-Insured Retentions. Consultant shall disclose to and <br />obtain the approval of City for the self-insured retentions and deductibles before <br />beginning any of the services or work called for by any term of this Agreement. <br />During the period covered by this Agreement, only upon the prior express written <br />authorization of Contract Administrator, Consultant may increase such deductibles <br />orself-insured retentions with respect to City, its officers, employees, agents, and <br />volunteers. The Contract Administrator may condition approval of an increase in <br />deductible orself-insured retention levels with a requirement that Consultant <br />procure a bond, guaranteeing payment of losses and related investigations, claim <br />administration, and defense expenses that is satisfactory in all respects to each of <br />them. <br />4.5.6 Subcontractors. Consultant shall include all subcontractors as insureds under its <br />policies or shall furnish separate certificates and certified endorsements for each <br />subcontractor. All coverages for subcontractors shall be subject to all of the <br />requirements stated herein. <br />Consulting Services Agreement between April 5, 2004 <br />City of San Leandro and Chandler Asset Management, Inc. Pag~ <br />