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6 <br />extended period coverage for a minimum of 5 years after <br />completion of the Work. <br />d. A copy of the claim reporting requirements must be submitted to <br />the City for review prior to the commencement of the Work. <br />6.3.3 Additional Requirements. A certified endorsement to include contractual <br />liability shall be included in the policy. <br />6.3.4 Submittal Requirements. To comply with Subsection 4.3, District shall <br />submit the Certificate of Liability Insurance in the amounts specified in <br />the section. <br />6.4 All Policies Requirements. <br />6.4.1 Acceptability of Insurers. All insurance required by this section is to be <br />placed with insurers with a Bests' rating of no less than A:VII. <br />6.4.2 Verification of Coverage. Prior to beginning the Work, District shall <br />furnish City with complete copies of all Certificates of Liability Insurance <br />delivered to District by the insurer, including complete copies of all <br />endorsements attached to the policies. All copies of Certificates of <br />Liability Insurance and certified endorsements shall show the signature <br />of a person authorized by that insurer to bind coverage on its behalf. If <br />the City does not receive the required insurance documents prior to the <br />District beginning the Work, it shall not waive the District’s obligation to <br />provide them. The City reserves the right to require complete copies of <br />all required insurance policies at any time. <br />6.4.3 Deductibles and Self-Insured Retentions. District shall disclose to and <br />obtain the written approval of City for the self-insured retentions and <br />deductibles before beginning the Work called for by any term of this <br />agreement. At the option of the City, either: the insurer shall reduce or <br />eliminate such deductibles or self-insured retentions as respects the <br />City, its officers, employees, and volunteers; or the District shall provide <br />a financial guarantee satisfactory to the City guaranteeing payment of <br />losses and related investigations, claim administration and defense <br />expenses. <br />6.4.4 Wasting Policies. No policy required by this Section 6 shall include a <br />“wasting” policy limit (i.e., limit that is eroded by the cost of defense). <br />6.4.5 Endorsement Requirements. Each insurance policy required by Section <br />6 shall be endorsed to state that coverage shall not be canceled by <br />either party, except after 30 days’ prior written notice has been provided <br />to the City. <br />