DEDUCTIBLES AND SELF. INSURED RETENTIONS. Any deductibles or self-insured retentions must be declared to and approved by the State of Washington. The State of Washington may require the Contractor to purchase coverage with a lower deductible or retention or provide proof of ability to pay losses and related investigations, claim administration, and defense expenses within the retention.
DEDUCTIBLES AND SELF. INSURED RETENTIONS
DEDUCTIBLES AND SELF. INSURED RETENTIONS Any deductible or self-insured retention must be declared to and approved by the Government. At the request of the Government either: (1) the insurer shall reduce or eliminate such deductibles or self-insured retentions as pertain to the Government, its officers, officials, employees, or volunteers; or (2) at the expense of Contractor, Contractor shall procure a bond guaranteeing payment of losses and related investigations, claims administration, and defense expenses.
DEDUCTIBLES AND SELF. Insured Programs
a. Latest audited financial statement, including auditor's notes.
b. Any records of any self-insured trust fund plan or policy and related accounting statements.
c. Actuarial funding reports or retained losses.
d. Risk Management Manual or a description of the self-insurance and risk management program.
e. A claim loss run summary for the previous five (5) years. f. Self-Insured Associations will be considered.
