AgdaPkt 2010-06-28 - Laserfiche WebLink

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6.1A Page 35 3. EVIDENCE OF INSURANCE A. All Coverages except Railroad Protective .. Prior to commencing work or entering onto the Property, Licensee shall provide the Risk Manager of the JPB with a certificate evidencing coverage, and upon request, a certified duplicate original of the policy. The certificate shall also show that the Licensees' policy{-ies) will not be cancelled or coverage altered without 30 days prior written notice to the JPB's Risk Manager. B. Railroad Protective.. Prior to commencing work or entering onto the Property, Licensee shall confirm that it has paid the premium for said insurance. If the Railroad Protective coverage has not been purchased under the JPB's program, the original polley, or insurance binder with the policy to follow, must be delivered to the JPB's Risk Manager prior to work beginning under this contract. 4. GENERAL PROVISIONS A. Notice of Cancellation. The policies shall provide that the Licensees' policies will not be cancelled or have limits reduced or coverage altered without 30 days prior written notice to the JPB's Risk Manager. B. Acceptable Insurers. All policies will be issued by insurers acceptable to the JPB (generally with a Best's Rating of A-X or better). C. Self..insurance. Upon evidence of financial capacity satisfactory to the JPB and Licensee's agreement to waive subrogation against the JPB respecting any and all claims that may arise, Licensee's obligation hereunder may be satisfied in whole or in part by adequately funded self-insurance. D. Failure to Maintain Insurance. All insurance specified above shall remain in force until all work to be performed is satisfactorily completed. all of Licensee's personnel and equipment have been removed from the JPB property, and the work has been formally accepted. The failure to procure or maintain required insurance and/or an adequately funded self-insurance program will constitute a material breach of this Agreement. E. Claims Made Coverage If any insurance specified above shall be provided on a claim-made basis, then in addition to coverage requirements above, such policy shall provide that: (1) Policy retroactive date coincides with or precedes the Licensee's start of work (including subsequent policies purchased as renewals or replacements). (2) Licensee shall make every effort to maintain similar insurance for at least three (3) years following project completion, including the requirement of adding all named insureds. (3) If insurance is terminated for any reason, Licensee agrees to purchase an extended reporting provision of at least three (3) years to report claims arising from work performed in connection with this Agreement (4) Policy allows for reporting of circumstances or incidents that might give rise to future claims. F. Deductlbles and Retentions Licensee shall be responsible for payment of any deductible or retention on Licensee's policies without right of contribution from the JPB. 1306159.1