Best Rating Guide. Property & Casualty with a policyholder’s rating of A, and a financial size category of Class VII. A waiver of subrogation is required for this policy.
Best Rating Guide. The School Board reserves the right to accept or reject the insurance carrier(s).
Best Rating Guide. If the insurer has a Best Rating less than A+, the Architect must receive specific written approval from the Owner prior to proceeding. Before providing services under the Agreement, the Architect shall furnish to the Owner a certificate or certificates of insurance in a form satisfactory to the Owner. Upon request of the Owner, the Architect shall provide the Owner with certified copies of the insurance policies required by this Section, including without limitation declaration pages, conditions, exclusions and endorsements and confirmation that each policy premium has been paid for the required term of this Agreement. Certificates shall be signed by a person authorized by that insurer to bind coverage on its behalf. All insurance policies shall provide, as evidenced by Certificates of Insurance, that the insurance shall not expire and shall not be canceled, reduced, materially restricted, or changed in any way without at least 30 days prior written notice to the Owner. With regard to expiration, cancellation, reduction, restriction or any other change, certificates shall state: "Should any of the following described policies be canceled before expiration date or be due to expire within 30 days, the insurer shall mail 30 days prior written notice to named certificate holder". In the event of any such cancellation, non-renewal, reduction, restriction or change in any insurance, the Architect is obligated to replace such insurance within 7 days without a gap in coverage and file accordingly such notice with the Owner, and other interested parties. Failing immediate receipt of evidence of such replacement of insurance, the Owner reserves the right to procure such insurance as the Owner considers desirable and the Architect shall pay the premium in respect thereof. It is expressly provided, however, that any action or inaction on the part of the Owner in this respect shall in no way change or reduce the Architect's responsibilities and liabilities under this Agreement. Self-funded, policy fronting or other non- risk transfer insurance mechanisms are not acceptable without prior written approval of the Owner. Full disclosure of such a program must be made prior to commencing mobilization to the site. Failure to make a full disclosure constitutes a material breach of the Agreement, justifying termination of the Agreement for default.
Best Rating Guide. Such insurance (i) shall contain an endorsement that such policy shall remain in full force and effect notwithstanding that the insured has released its right of action against any party before the occurrence of a loss; (ii) shall name Landlord and, at Landlord's request, any Mortgagee or ground lessor, as additional insured parties; and (iii) shall provide that the policy shall not be canceled, failed to be renewed or materially amended without at least thirty (30) days' prior written notice to landlord and, at Landlord's request, any Mortgagee. On or before the Commencement Date and, thereafter, not less than thirty (30) days before the expiration date of the insurance policy, an original of the policy (including any renewal or replacement policy) or a certified copy thereof, together with evidence satisfactory to Landlord of the payment of all premiums for such policy, shall be delivered to Landlord and, at Landlord's request, to any Mortgagee.
