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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 />4.3.4 Submittal Requirements. To comply with Subsection 4.3, Consultant shall <br />submit the Certificate of Liability Insurance in the amounts specified in the section. <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 obtain <br />the written 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. At <br />the option of the City, either: the insurer shall reduce or eliminate such deductibles <br />or self-insured retentions as respects the City, its officers, employees, and <br />volunteers; or the Consultant shall provide a financial guarantee satisfactory to the <br />City guaranteeing payment of losses and related investigations, claim administration <br />and defense expenses. <br />4.4.4 Wasting Policies. No policy required by this Section 4 shall include a "wasting" <br />policy limit (i.e. limit that is eroded by the cost of defense). <br />4.4.5 Endorsement Requirements. Each insurance policy required by Section 4 shall <br />be endorsed to state that coverage shall not be canceled by either party, except <br />after 30 days' prior written notice has been provided to the City. <br />4.4.6 Subcontractors. Consultant shall include all subcontractors as insureds under its <br />policies or shall furnish separate certificates and certified endorsements for each <br />Consulting Services Agreement between City of San Leandro and Last revised July 1, 2016 <br />BAHBA for Homebuyer Program Page 6 of 13 <br />