Common use of Insurance Amounts Clause in Contracts

Insurance Amounts. CONTRACTOR and all subcontractors shall maintain the following insurance in the amount and type for the duration of this Agreement: (a) Commercial general liability in an amount not less than $5,000,000 per occurrence, and not excluding XCU; (claims made and modified occurrence policies are not acceptable); Insurance companies must be acceptable to CITY and have an AM Best’s Guide Rating of A-, Class VII or better, as approved by the CITY. (b) Automobile liability in an amount not less than $5,000,000 combined single limit; (claims made and modified occurrence policies are not acceptable); Insurance companies must be acceptable to CITY and have an AM Best’s Guide Rating of A-, Class VII or better, as approved by the CITY. (c) Excess liability, follows form coverage, shall be provided for any underlying policy that does not meet the insurance requirements set forth herein.(claims made and modified occurrence policies are not acceptable) Insurance companies must be acceptable to CITY and have a Best’s Guide Rating of A-Class VII or better, as approved by the CITY. An Additional Insured Endorsement, ongoing and products- completed operations, for the policy under section 4.16.6 (a) shall designate CITY, its officers, officials, employees, agents, and volunteers for this contract and all public agencies from whom permits will be obtained and their directors, officers, agents, and employees, as determined by the CITY, as additional insureds for liability arising out of work or operations performed by or on behalf of the CONTRACTOR. CONTRACTOR shall provide to CITY proof of insurance and endorsement forms that conform to city’s requirements, as approved by the CITY. An Additional Insured Endorsement for the policy under section 4.16.6