Agmt23 Renaissance Entrepreneurship Center CDBG FY23-24

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REV: 09-25-23 VR funded hereunder covering City’s risk subject to the approval of the City Attorney. All insurance carriers are required to maintain an A.M. Best rating of not less than “A-: VII”. The minimum amounts of coverage corresponding to the aforesaid categories of insurance per insurable event, will be as follows: Insurance Category Minimum Limits Workers Compensation statutory minimum Employer's Liability $1,000,000 per accident for bodily injury, personal injury and property damage Comprehensive General $1,000,000 per occurrence for bodily injury, personal injury and property damage Automobile Liability $1,000,000 per accident for bodily injury and property damage (coverage required to the extent applicable to Subrecipient’s vehicle usage in performing services hereunder) Professional Liability Subrecipient shall maintain coverage with limits not less than $1,000,000 per occurrence. Professional Liability may be written as claims-made coverage. Concurrently with the execution of this Agreement, Subrecipient will furnish City with certificates and copies of information or declaration pages of the insurance required hereunder and, with respect to evidence of comprehensive general liability and automobile liability insurance coverage, original endorsements including, without limitation: a) An endorsement precluding cancellation or reduction in coverage before the expiration of thirty (30) days after City will have received written notification of cancellation or reduction in coverage by first class mail; b) A certificate providing that Subrecipient’s insurance will apply separately to each insured against whom claim is made or suit is brought, except with respect to the limits of the insurer’s liability (cross liability endorsement); ATTY/AGR.2023.035/Renaissance Entrepreneurship Center (CDBG Renewal) (Page 10 of 20)