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4.3 Professional Liability Insurance. <br /> 4.3.1 General Requirements. Consultant, at its own cost and expense, shall maintain for the <br /> period covered by this Agreement professional liability insurance for licensed professionals <br /> performing work pursuant to this Agreement in an amount not less than $1,000,000 <br /> covering the licensed professionals' errors and omissions. Any deductible or self-insured <br /> retention shall not exceed $150,000 per claim. <br /> 4.3.2 Claims-Made Limitations. The following provisions shall apply if the professional liability <br /> coverage is written on a claims-made form: <br /> a. The retroactive date of the policy must be shown and must be before the date of <br /> the Agreement. <br /> b. Insurance must be maintained and evidence of insurance must be provided for at <br /> least 5 years after completion of the Agreement or the work, so long as <br /> commercially available at reasonable rates. <br /> c. If coverage is canceled or not renewed and it is not replaced with another claims- <br /> made policy form with a retroactive date that precedes the date of this Agreement, <br /> Consultant shall purchase an extended period coverage for a minimum of 5 years <br /> after completion of work under this Agreement. <br /> d. A copy of the claim reporting requirements must be submitted to the City for <br /> review prior to the commencement of any work under this Agreement. <br /> 4.3.3 Additional Requirements. A certified endorsement to include contractual liability shall be <br /> included in the policy. <br /> 4.3.4 Submittal Requirements. To comply with Subsection 4.3, Consultant shall submit the <br /> 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 with <br /> 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, Consultant <br /> shall furnish City with complete copies of all Certificates of Liability Insurance delivered to <br /> Consultant by the insurer, including complete copies of all endorsements attached to the <br /> policies. All copies of Certificates of Liability Insurance and certified endorsements shall <br /> show the signature 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 Consultant <br /> beginning work, it shall not waive the Consultant's obligation to provide them. The City <br /> reserves the right to require complete copies of all required insurance policies at any time. <br /> Consulting Services Agreement between January 17, 2017 <br /> City of San Leandro and SmartWAVE Technologies Page 6 of 16 <br />