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. <br /> <br /> <br />Consulting Services Agreement between City of San Leandro and Foster & Foster 12/12/2022 <br />Actuarial Consulting Services for CalPERS Analysis Page 7 of 15 <br />b. Insurance must be maintained and evidence of insurance must be provided <br />for at least 5 years after completion of the Agreement or the work, so long <br />as commercially available at reasonable rates. <br /> <br />c. If coverage is canceled or not renewed and it is not replaced with another <br />claims-made policy form with a retroactive date that precedes the date of <br />this Agreement, Consultant shall purchase an extended period coverage <br />for a minimum of 5 years after completion of work under this Agreement. <br /> <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 /> <br />4.3.3 Additional Requirements. A certified endorsement to include contractual liability <br />shall be included in the policy. <br /> <br />4.3.4 Submittal Requirements. To comply with Subsection 4.3, Consultant shall submit <br />the Certificate of Liability Insurance in the amounts specified in the section. <br /> <br />4.4 Section Reserved. <br /> <br />4.5 All Policies Requirements. <br /> <br />4.5.1 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 /> <br />4.5.2 Verification of Coverage. Prior to beginning any work under this Agreement, <br />Consultant shall furnish City with complete copies of all Certificates of Liability <br />Insurance delivered to Consultant by the insurer, including complete copies of all <br />endorsements attached to the policies. All copies of Certificates of Liability <br />Insurance and certified endorsements shall show the signature of a person <br />authorized by that insurer to bind coverage on its behalf. If the City does not receive <br />the required insurance documents prior to the Consultant beginning work, it shall <br />not waive the Consultant’s obligation to provide them. The City reserves the right <br />to require complete copies of all required insurance policies at any time. <br /> <br />4.5.3 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 /> <br />4.5.4 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 />DocuSign Envelope ID: 1BEB6A68-E2EB-4930-BE17-88C23D3970B2