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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 /> 6 <br />