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not less than $1,00Q000 covering the licensed professionals' errors and <br /> omissions. Any deductible or self- insured retention shall not exceed $150,000 per <br /> claim. <br /> 4.3.2 Claims -Made Limitations. The following provisions shall apply if the professional <br /> liability coverage is written on a claims -made form: <br /> a. The retroactive date of the policy must be shown and must be before the <br /> date of the Agreement. <br /> b. Insurance must be maintained and evidence of insurance must be <br /> provided for at least 5 years after completion of the Agreement or the <br /> work, so long as commercially available at reasonable rates. <br /> c. If coverage is canceled or not renewed and it is not replaced with another <br /> claims -made policy form with a retroactive date that precedes the date of <br /> this Agreement, Consultant shall purchase an extended period coverage <br /> for a minimum of 5 years after completion of work under this Agreement. <br /> d. A copy of the claim reporting requirements must be submitted to the City <br /> for review prior to the commencement of any work under this Agreement. <br /> 4.3.3 Additional Requirements. A certified endorsement to include contractual liability <br /> shall be included in the policy. <br /> 4.4 All Policies Requirements. <br /> 4.4.1 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 /> 4.4.2 Verification of Coverage. Prior to beginning any work under this Agreement, <br /> Consultant shall furnish City with complete copies of all certificates of insurance <br /> delivered to Consultant by the insurer, including complete copies of all <br /> endorsements attached to the policies. All copies of certificates of insurance and <br /> certified endorsements shall show the signature of a person authorized by that <br /> insurer to bind coverage on its behalf. If the City does not receive the required <br /> insurance documents prior to the Consultant beginning work, it shall not waive the <br /> Consultant's obligation to provide them. The City reserves the right to require <br /> complete copies of all required insurance policies at any time. <br /> 4.4.3 Deductibles and Self- Insured Retentions. Consultant shall disclose to and <br /> obtain the written approval of City for the self- insured retentions and deductibles <br /> before beginning any of the services or work called for by any term of this <br /> Agreement. At the option of the City, either: the insurer shall reduce or eliminate <br /> such deductibles or self- insured retentions as respects the City, its officers, <br /> employees, and volunteers; or the Consultant shall provide a financial guarantee <br /> Consulting Services Agreement between Project No. 08- 593 -52 -239 <br /> City of San Leandro and CTS, Inc. Page 6 of 14 <br />