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• <br /> BAAQMD FY2009/2010 TFCA Funding Agreement <br /> ATTACHMENT D <br /> INSURANCE REQUIREMENTS <br /> Verification of Coverage <br /> Project Sponsor shall provide the Air District certificates and /or other evidence of the insurance <br /> coverage required below. The Air District reserves the right to require Project Sponsor to <br /> provide complete, certified copies of any insurance offered in compliance with these <br /> specifications. Certificates, policies and other evidence provided shall specify that the Air <br /> District shall receive 30 days advanced notice of cancellation from the insurers. <br /> Acceptability of Insurers <br /> Insurance is to be placed with insurers with a current A.M. Best's rating of no less than A: VII. <br /> The Air District may, at its sole discretion, waive or alter this requirement or accept self - <br /> insurance in lieu of any required policy of insurance. <br /> Minimum Scope of Insurance <br /> Throughout the Term of the Agreement, Project Sponsor shall obtain and maintain in full <br /> force and effect the insurance as set forth below. Project Sponsor to initial next to each <br /> checked insurance requirement to confirm understanding and Agreement with the applicable <br /> Required if Project insurance requirements: <br /> checked <br /> 1. Liability Insurance <br /> X jt Corporations /Private and Public Entities - a limit of not less than $1,000,000 per <br /> Initial occurrence. Such insurance shall be of the type usual and customary to the business of the <br /> Project Sponsor, and to the operation of the vehicles, engines or equipment operated by the <br /> Project Sponsor. <br /> Single Vehicle Owners - a limit of not less than $750,000 per occurrence. Such insurance <br /> Initial shall be of the type usual and customary to the business of the Project Sponsor, and to the <br /> operation of the vehicles, engines or equipment operated by the Project Sponsor. <br /> 2. Property Insurance <br /> x Repower and New Vehicle /Equipment Purchase - in an amount of not less than the <br /> Initial insurable value of Project Sponsor's vehicles, engines or equipment funded under the <br /> Agreement of which this Attachment is a part, and covering all risks of loss, damage or <br /> destruction of such vehicles, engines or equipment. <br /> Property Insurance for Retrofit Projects — for all 2003 model year or newer vehicles in an <br /> Initial amount of not less than the insurable value of Project Sponsor's vehicles, covering all risks <br /> of loss, damage or destruction of such vehicles, engines or equipment. <br /> TFCA Regional Fund Project 09R55 Page 15 <br />