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ATTY/AGR/2015.044/WELLS FARGO BANK <br />REV: 04-03-15 MLG <br />Page 3 of 8 <br />Bank or Bank’s agents, representatives, employees. The insurance carrier is required <br />to maintain an A.M. Best rating of not less than “A-:VII”. <br /> <br />9.1 Coverages and Limits. Bank, at its sole expense, shall maintain the types <br />of coverages and minimum limits indicated below, unless otherwise approved by <br />City in writing. These minimum amounts of coverage will not constitute any <br />limitations or cap on Bank's indemnification obligations under this Agreement. <br /> <br />9.1.1 Commercial General Liability Insurance. Bank shall maintain <br />occurrence based coverage with limits not less than $1,000,000 per <br />occurrence. If the submitted policies contain aggregate limits, such limits <br />will apply separately to the Services, project, or location that is the subject <br />of this Agreement or the aggregate will be twice the required per <br />occurrence limit. The Commercial General Liability insurance policy shall <br />be endorsed to include the City, its officers, agents, employees and <br />volunteers as additional insureds, and to state that the insurance will be <br />primary and not contribute with any insurance or self-insurance <br />maintained by the City. <br /> <br />9.1.2 Business Automobile Liability Insurance. Bank shall maintain <br />coverage with limits not less than $1,000,000 per each accident for <br />owned, hired and non-owned automobiles. <br /> <br />9.1.3 Workers' Compensation Insurance. Bank shall maintain coverage <br />as required by the California Labor Code. <br /> <br />9.1.4 Employer's Liability Insurance. Bank shall maintain coverage with <br />limits not less than $1,000,000 per each accident for bodily injury or <br />disease. <br /> <br />9.1.5 Professional Liability Insurance. Bank shall maintain coverage with <br />limits not less than $1,000,000 per occurrence. Professional Liability may <br />be written as claims-made coverage. <br /> <br />9.2. Notice of Cancellation. This insurance will be in force during the life of the <br />Agreement and any extensions of it and will not be canceled without Bank <br />providing thirty (30) days prior written notice to City sent pursuant to the Notice <br />provisions of this Agreement. <br /> <br />9.3 Providing Certificates of Insurance and Endorsements. Prior to City’s <br />execution of this Agreement, Bank shall provide to City certificates of insurance <br />and above-referenced endorsements sufficient to satisfaction of City’s Risk <br />Manager. In no event shall Bank commence any work or provide any Services <br />under this Agreement until certificates of insurance and endorsements have been <br />accepted by City’s Risk Manager. <br /> <br />6.1.D. - Page 5