General Requirements for All Insurance Policies. (including those provided by Consultants). All insurance coverages must be placed with carriers acceptable to TFC, licensed to do business in Texas, and having an A.M. Best’s Guide rating of A-/VII or better by A.M. Best, confirmed by one or more insurance certificates on an Xxxxx 25 form. All insurance coverages shall be written on an occurrence basis (except professional liability) and shall be primary and not excess insurance vis-à-vis any coverage, any self-insurance, or other policy of insurance maintained by TFC. Any coverage underwritten on a claims- made basis must include a retroactive date for the policy and all renewals coincident with the Effective Date of this Agreement and the certificate of insurance shall state that the coverage is claims-made and the retroactive date. Any premiums for this extended reporting period shall be paid by A/E. Certificates of insurance and additional insured endorsements required herein shall provide that the policies shall be primary without right of contribution from any insurance carried by TFC. Each policy, other than workers’ compensation/employers’ liability and professional liability, shall contain a severability of interest clause stating “it is agreed that the insurance afforded by this policy shall apply separately to each insured against whom claim is made or suit is brought except with respect to the limits of the company’s liability.” Each policy shall provide for full separation of insureds and include no insured v. insured limitations or exclusions.
