Common use of Self-Insured Retention/Deductibles Clause in Contracts

Self-Insured Retention/Deductibles. Design-Builders utilizing self-insurance programs are required to provide a description of the program for Department approval. Collateralized deductible and self-insured retention programs administered by a third party may be approved. Design-Builder or third-party-administered insurance deductible shall be limited to the amount of the bid deposit or $100,000.00, whichever is less. Security is not required if it is otherwise provided to an administrator for an approved risk management program. The Department will not accept a self-insured retention program without security being posted to assure payment of both the self-insured retention limit and the cost of adjusting claims. The Design-Builder shall be solely responsible for all claim expense and loss payments within any permitted deductible or self-insured retention. If the Design-Builder’s deductible in a self-administered program exceeds the amount of the bid deposit, the Design-Builder shall furnish an irrevocable Letter of Credit as collateral to guarantee its obligations. Such Letter of Credit or other collateral as may be approved by Department must be issued by a guarantor or surety with an AM Best Company rating of (A -) or better. If, at any time during the term of this agreement, the Department, in its sole discretion, determines that the Design-Builder is not paying its deductible, it may require the Design-Builder to collateralize all or any part of the deductible or self-insured retention on any or all policies of insurance or, upon failure to promptly do so, the same may be withheld from payments due the Design-Builder.

Self-Insured Retention/Deductibles. Design-Builders Consultants utilizing self-insurance programs are required to provide a description of the program for Department approval. Collateralized deductible and self-insured retention programs administered by a third party may be approved. Design-Builder or third-partyExcept as may be specifically provided in the Contract Documents of a particular project, Consultant-administered insurance deductible shall be limited to the amount of the bid deposit or $100,000.00100,000, whichever is less. Security is not required if it is otherwise provided to an administrator for an approved risk management program. The Department will not accept a self-insured retention program without security being posted to assure payment of both the self-insured retention limit and the cost of adjusting claims. The Design-Builder Consultant shall be solely responsible for all claim expense and loss payments within any permitted deductible or self-insured retention. If the Design-BuilderConsultant’s deductible in a self-administered program exceeds the amount of the bid deposit, the Design-Builder Consultant shall furnish an irrevocable Letter of Credit as collateral to guarantee its obligations. Such Letter of Credit or other collateral as may be approved by Department must be issued by a guarantor or surety with an AM Best Company rating of (“A -) minus” or betterhigher. If, at any time during the term of this agreement, the Department, in its sole discretion, determines that the Design-Builder Consultant is not paying its deductible, it may require the Design-Builder Consultant to collateralize all or any part of the deductible or self-insured retention on any or all policies of insurance or, upon failure to promptly do so, the same may be withheld from payments due the Design-BuilderConsultant.

Self-Insured Retention/Deductibles. Design-Builders Design‐Builders utilizing self-insurance self‐insurance programs are required to provide a description of the program for Department approval. Collateralized deductible and self-insured self‐insured retention programs administered by a third party may be approved. Design-Builder Design‐Builder or third-party-third‐party‐ administered insurance deductible shall be limited to the amount of the bid deposit or $100,000.00, whichever is less. Security is not required if it is otherwise provided to an administrator for an approved risk management program. The Department will not accept a self-insured self‐insured retention program without security being posted to assure payment of both the self-insured self‐insured retention limit and the cost of adjusting claims. The Design-Builder Design‐Builder shall be solely responsible for all claim expense and loss payments within any permitted deductible or self-insured self‐insured retention. If the Design-Design‐ Builder’s deductible in a self-administered self‐administered program exceeds the amount of the bid deposit, the Design-Builder Design‐Builder shall furnish an irrevocable Letter of Credit as collateral to guarantee its obligations. Such Letter of Credit or other collateral as may be approved by Department must be issued by a guarantor or surety with an AM Best Company rating of (A -‐) or better. If, at any time during the term of this agreement, the Department, in its sole discretion, determines that the Design-Builder Design‐Builder is not paying its deductible, it may require the Design-Builder Design‐Builder to collateralize all or any part of the deductible or self-insured self‐insured retention on any or all policies of insurance or, upon failure to promptly do so, the same may be withheld from payments due the Design-BuilderDesign‐Builder.

Self-Insured Retention/Deductibles. Design-Builders Contractors utilizing self-insurance programs are required to provide a description of the program for Department approval. Collateralized deductible and self-insured retention programs administered by a third party may be approved. Design-Builder Except as may be specifically provided in the Contract Documents of a particular project, Contractor or third-party-administered insurance deductible shall be limited to the amount of the bid deposit or $100,000.00, whichever is less. Security is not required if it is otherwise provided to an administrator for an approved risk management program. The Department will not accept a self-insured retention program without security being posted to assure payment of both the self-insured retention limit and the cost of adjusting claims. The Design-Builder Contractor shall be solely responsible for all claim expense and loss payments within any permitted deductible or self-self- insured retention. If the Design-BuilderContractor’s deductible in a self-administered program exceeds the amount of the bid deposit, the Design-Builder Contractor shall furnish an irrevocable Letter of Credit as collateral to guarantee its obligations. Such Letter of Credit or other collateral as may be approved by Department must be issued by a guarantor or surety with an AM Best Company rating of (A -) or better. If, at any time during the term of this agreement, the Department, in its sole discretion, determines that the Design-Builder Contractor is not paying its deductible, it may require the Design-Builder Contractor to collateralize all or any part of the deductible or self-insured retention on any or all policies of insurance or, upon failure to promptly do so, the same may be withheld from payments due the Design-BuilderContractor.

Self-Insured Retention/Deductibles. Design-Builders Consultants utilizing self-insurance programs are required to provide a description of the program for Department approval. Collateralized deductible and self-insured retention programs administered by a third party may be approved. Design-Builder or third-partyExcept as may be specifically provided in the Contract Documents of a particular project, Consultant-administered insurance deductible shall be limited to the amount of the bid deposit or $100,000.00100,000, whichever is less. Security is not required if it is otherwise provided to an administrator for an approved risk management program. The Department will not accept a self-self- insured retention program without security being posted to assure payment of both the self-insured retention limit and the cost of adjusting claims. The Design-Builder Consultant shall be solely responsible for all claim expense and loss payments within any permitted deductible or self-insured retention. If the Design-BuilderConsultant’s deductible in a self-administered program exceeds the amount of the bid deposit, the Design-Builder Consultant shall furnish an irrevocable Letter of Credit as collateral to guarantee its obligations. Such Letter of Credit or other collateral as may be approved by Department must be issued by a guarantor or surety with an AM Best Company rating of (“A -) minus” or betterhigher. If, at any time during the term of this agreement, the Department, in its sole discretion, determines that the Design-Builder Consultant is not paying its deductible, it may require the Design-Builder Consultant to collateralize all or any part of the deductible or self-insured retention on any or all policies of insurance or, upon failure to promptly do so, the same may be withheld from payments due the Design-BuilderConsultant.

Self-Insured Retention/Deductibles. Design-Builders Consultants utilizing self-insurance programs are required to provide a description of the program for Department approval. Collateralized deductible and self-insured retention programs administered by a third party may be approved. Design-Builder or third-party-Except as may be specifically provided in the Contract Documents of a particular project, Consultant- administered insurance deductible shall be limited to the amount of the bid deposit or $100,000.00100,000, whichever is less. Security is not required if it is otherwise provided to an administrator for an approved risk management program. The Department will not accept a self-insured retention program without security being posted to assure payment of both the self-insured retention limit and the cost of adjusting claims. The Design-Builder Consultant shall be solely responsible for all claim expense and loss payments within any permitted deductible or self-insured retention. If the Design-BuilderConsultant’s deductible in a self-self- administered program exceeds the amount of the bid deposit, the Design-Builder Consultant shall furnish an irrevocable Letter of Credit as collateral to guarantee its obligations. Such Letter of Credit or other collateral as may be approved by Department must be issued by a guarantor or surety with an AM Best Company rating of (“A -) minus” or betterhigher. If, at any time during the term of this agreement, the Department, in its sole discretion, determines that the Design-Builder Consultant is not paying its deductible, it may require the Design-Builder Consultant to collateralize all or any part of the deductible or self-insured retention on any or all policies of insurance or, upon failure to promptly do so, the same may be withheld from payments due the Design-BuilderConsultant.

Self-Insured Retention/Deductibles. Design-Builders Contractors utilizing self-insurance programs are required to provide a description of the program for Department approval. Collateralized deductible and self-insured retention programs administered by a third party may be approved. Design-Builder Except as may be specifically provided in the Contract Documents of a particular project, Contractor or third-party-administered insurance deductible shall be limited to the amount of the bid deposit or $100,000.00, whichever is less. Security is not required if it is otherwise provided to an administrator for an approved risk management program. The Department will not accept a self-insured retention program without security being posted to assure payment of both the self-insured retention limit and the cost of adjusting claims. The Design-Builder Contractor shall be solely responsible for all claim expense and loss payments within any permitted deductible or self-insured retention. If the Design-BuilderContractor’s deductible in a self-administered program exceeds the amount of the bid deposit, the Design-Builder Contractor shall furnish an irrevocable Letter of Credit as collateral to guarantee its obligations. Such Letter of Credit or other collateral as may be approved by Department must be issued by a guarantor or surety with an AM Best Company rating of (A -) or better. If, at any time during the term of this agreement, the Department, in its sole discretion, determines that the Design-Builder Contractor is not paying its deductible, it may require the Design-Builder Contractor to collateralize all or any part of the deductible or self-insured retention on any or all policies of insurance or, upon failure to promptly do so, the same may be withheld from payments due the Design-BuilderContractor.