Laserfiche WebLink
<br />32 <br />19.1.3 Notice of Cancellation. All insurance policies required to be maintained by <br />Licensee under this Master License shall be endorsed to provide written notice of <br />cancellation for any reason, including intent not to renew or to reduce coverage to both <br />Licensee and the City. Licensee must provide a copy of any notice of intent to cancel or <br />cancellation of its required coverage to the City within one business day of Licensee’s <br />receipt and take prompt action to prevent cancellation, reinstate the cancelled coverage, <br />or obtain it from a different insurer meeting the qualifications of Subsection 19.1.9 <br />(Ratings). <br />19.1.4 Claims-Made Policies. Should any of the required insurance be provided <br />under a claims-made form, Licensee shall maintain such coverage continuously <br />throughout the Term and, without lapse, for a period of three years after the expiration or <br />termination of this Master License, to the effect that, should occurrences during the Term <br />give rise to Claims made after expiration or termination of this Master License, such <br />Claims shall be covered by such claims-made policies. <br />19.1.5 General Aggregate Limit. Should any of the required insurance be <br />provided under a form of coverage that includes a general annual aggregate limit or <br />provides that Claims investigation or legal defense costs will be included in such general <br />annual aggregate limit, such general aggregate limit shall be double the occurrence or <br />Claims limits specified above. <br />19.1.6 Certificates. Licensee shall deliver to the City certificates of insurance and <br />additional insured policy endorsements from insurers in a form satisfactory to the City, <br />evidencing the coverages required under this Master License, on or before the Effective <br />Date, together with complete copies of the policies promptly upon the City’s request, and <br />Licensee shall provide the City with certificates or policies thereafter promptly upon the <br />City’s request. <br />19.1.7 Insurance Does Not Limit Indemnity. Licensee’s compliance with the <br />provisions of this Section in no way relieve or decrease Licensee’s liability under Article <br />18 (Licensee’s Indemnity) or any other provision of this Master License. <br />19.1.8 Right to Terminate. The City may elect, in the City’s sole and absolute <br />discretion, to terminate this Master License if Licensee allows any required insurance <br />coverage to lapse by: (i) providing Licensee notice of the event of default; and (ii) including <br />in the notice of default a notice of termination if Licensee fails to reinstate the lapsed <br />coverage within three business days after the City delivers notice. <br />19.1.9 Ratings. Licensee’s insurance companies must be licensed or authorized to <br />do business in California and must meet or exceed an A.M. Best rating of A-VII or its <br />equivalent. <br />19.1.10 Effective Dates. All insurance must be in effect before the City will <br />authorize Licensee to install Equipment on any City Pole and remain in force until all <br />Equipment has been removed from the License Area. Licensee is responsible for <br />determining whether the above minimum insurance coverages are adequate to protect its <br />interests. The above minimum coverages are not limitations upon Licensee’s liability. <br />19.1.11 Self-Insurance Alternative. Licensee may propose and the City may accept <br />an alternative insurance program, if that program provides equivalent protections to the City <br />as the insurance requirements in this Section, which the City will determine in its sole <br />discretion, in consultation with the City’s Risk Manager. The City’s acceptance of an <br />alternative insurance program will not affect an implied waiver or amendment of any other <br />requirement of this Master License. Any amendment of these insurance requirements must <br />be in a written amendment to this Master License, executed in the same manner as this <br />Master License.