Agenda - 12-11-2007-4lxtr - Laserfiche WebLink

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Contractor in this Agreement. The Contractor snail provide a written copy of the ciaim or alleged claim to the CMAR within three {3) days of the Conttactor's receipt of the claim or alleged claim. }f a ciaim is settled to the satisfaction of the ciaimant, the Contractor snail • submit a copy of the ciaimani's release to the CMAR. if a claim or alleged claim is rejected by the Contractor andlor its insurance company, the Contractor shalt imrnediatefy report this fact to the CMAR, Should thirty {30}days elapse after the claim or aleged claim has been received by the Contractor, and the Contractor Cs not able to report a settlement or rejection of the claim, it shall report to the CMAR the steps being taken with respect to the ciaim. Without iimiting the foregoing, the Contractor shall notify the CMAR in writing of any paid or incurred claims which may impair annual aggregate or genera( liability. 5.7.7 Deductibles and Self-insured Retentions Any deductibles or self-insured retentions must be declared to and approved by the CMAR. At the option of the CMAR, either: the insurer shah reduce to a max[mum of $25Q,00t} ar eliminate such deductibles or self-insured retentions wtth respect to the CMAR, ar the Gontractor shall provide evidence of coilaterai provided to insurers ar procure a band guaranteeing payment of losses and related investigations, claim administration, and defense expenses within the deductible or self-insured retention amount, Any self-insured retention ar deductible amount on the policy snail not reduce the amount of eallectible limits or liability. 5.1.13 Subcontractors The Contractor shall include alt Subcontractors as Insureds under its policies, or shall famish separate certificates, policies, and endorsements for each Subcontractor the Contractor intends to use, if a Subcontractor does not take out insurance in its own name and the Contractor wishes to provide Insurance protection for such Subcontractor and such Subcontractor's empCoyees, the Contractor shalt either {a) procure appropriate poiicles in the name of the Subcontractor, or (b) cause a rider ar riders to be attached to the Contractor's policies which steal! identify the 5ubconiractor thereby covered; provided. however, in the case of the latter option, such a rider need not be attached to the Contractor's workers' compensation policy if such policy by its terms is sufficiently broad to cover fhe employees of ail Subcontractors performing Wprkunder the Contract ©acuments. Except as otherwise approved by the CMAR in writing, Limits of Liability and coverage scope must be at a minimum as stringent as required of the Contractor by the Contract Documents. ACI Work performed for the Contractor by any Subcontractor shall.be pursuant to an appropriate agreement between the Gontractor and the Subcontractor which shall contain provisions thaE waive ail rights the contracting parties may have against one another for damages caused by fire or other perils covered by insurance as provided herein. insurance monies received from any toss shaft be divided as the respective interest of the parties affected shaft appear. 5.2 PROPERTY iNSURANCE The CMAR shat) be responsible for purchasing and maintaining insurance to protect the Project from penis of physical foss. 'fhe insurance shall provide for the cost of replacement far the Work of the time of any foss. The insurance shall include as named insureds the Owner, fhe CMAR, the Gontractors and their Subcontractors and shall insure against the loss from the perils of fire and ail risk coverage for physical loss or damage due to theft, vandalism, collapse, malicious mischief, transit, flood, earthquake, testing, damages resulting from defective design, negligent workmanship or defective material. The CMAR GENERAL. CONDITIONS FOR CM AT RISK PROJEG7 13 of 42 JUNE 2()t?7 EDITION