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6.3.4 Submittal Requirements. To comply with Subsection 6.3 Subrecipient shall submit the following: <br /> <br />a. Certificate of Liability Insurance in the amounts specified in the section; <br /> <br />b. Additional Insured Endorsement as required by the section; <br /> <br />c. Waiver of Subrogation Endorsement as required by the section; and <br /> <br />d. Primary Insurance Endorsement as required by the section. <br /> <br />6.4 Professional Liability Insurance. <br /> <br />6.4.1 General Requirements. Consultant, at its own cost and expense, shall maintain for the period <br />covered by this Agreement professional liability insurance for licensed professionals performing work pursuant to <br />this Agreement in an amount not less than $ $1,000,000 covering the licensed professionals’ errors and omissions. <br />Any deductible or self-insured retention shall not exceed $150,000 per claim <br /> <br />6.4.2 Claims-Made Limitations. The following provisions shall apply if the professional liability coverage is <br />written on a claims-made form: <br /> <br />a. The retroactive date of the policy must be shown and must be before the date of the <br />Agreement. <br />b. Insurance must be maintained and evidence of insurance must be provided for at least 5 <br />years after completion of the Agreement or the work, so long as commercially available at reasonable rates. <br />c. If coverage is canceled or not renewed and it is not replaced with another claims-made policy <br />form with a retroactive date that precedes the date of this Agreement, Consultant shall purchase an extended period <br />coverage 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 for review prior to <br />the commencement of any work under this Agreement. <br /> <br />6.4.3 Additional Requirements. A certified endorsement to include contractual liability shall be included in <br />the policy. <br /> <br />6.4.4 Submittal Requirements. To comply with Subsection 4.3, Consultant shall submit the Certificate of <br />Liability Insurance in the amounts specified in the section. <br /> <br />6.5 All Policies Requirements. <br /> <br />6.5.1 Acceptability of Insurers. All insurance required by this section is to be placed with insurers with a <br />Bests' rating of no less than A:VII. <br /> <br />6.5.2 Verification of Coverage. Prior to beginning any work under this Agreement, Subrecipient shall <br />furnish City with complete copies of all certificates of insurance delivered to Subrecipient by the insurer, including <br />complete copies of all endorsements attached to the policies. All copies of certificates of insurance and certified <br />endorsements shall show the signature of a person authorized by that insurer to bind coverage on its behalf. If the <br />City does not receive the required insurance documents prior to the Subrecipient beginning work, it shall not waive <br />the Subrecipient’s obligation to provide them. The City reserves the right to require complete copies of all required <br />insurance policies at any time. <br /> <br />6.5.3 Deductibles and Self-Insured Retentions. Subrecipient shall disclose to and obtain the written <br />approval of City for the self-insured retentions and deductibles before beginning any of the services or work called <br />for by any term of this Agreement. At the option of the City, either: the insurer shall reduce or eliminate such <br />deductibles or self-insured retentions as respects the City, its officers, employees, and volunteers; or the <br />Subrecipient shall provide a financial guarantee satisfactory to the City guaranteeing payment of losses and related <br />investigations, claim administration and defense expenses. <br /> <br />6.5.4 Wasting Policies. No policy required by this Section 6 shall include a “wasting” policy limit (i.e. limit <br />that is eroded by the cost of defense). <br /> <br />313