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13 <br />Revised 01/24 <br />On a fully insured basis such coverage will be subject to a deductible no greater than <br />$10,000 per occurrence where coverage is not provided by the underlying insurance, but is <br />provided by the Umbrella Liability policy. <br />The Contractor may use any combination of primary and umbrella insurance policies to comply <br />with the insurance requirements, provided the resulting insurance is equivalent to the insurance <br />stated herein. <br /> All Occupational Disease exclusions must be deleted. Any Pollution Exclusion must be <br />amended to allow coverage for bodily injury or property damage caused by spill, upset, <br />overturn, heat, smoke, or fumes from a hostile fire. <br /> <br />5.1.6 Property Insurance <br /> The Contractor shall purchase All Risk Property Insurance on a Completed Value Form in the <br />names of the Owner, Contractor, Subcontractors, and sub-subcontractors as their interests may <br />appear with limits as follows: <br /> a) Full insurance value of the Work, or <br /> b) Amount equal to the Contract Price for the Work, whichever is higher. <br />The Contractor is responsible for all physical damage to owned or rented machinery, tools, <br />equipment, forms, and other items owned, rented or used by the Contractor or Subcontractor(s) <br />in the performance of the Work including all of Owner’s property in Contractor’s care, custody, <br />or control, and all such property while it is in transit. The insurance coverage evidencing such <br />shall include a waiver of subrogation in favor of the Owner. <br /> <br />5.1.7 Valuable Papers and Records <br /> The Contractor shall provide valuable papers and records insurance with coverage in an <br />amount commensurate with project scope and set forth in the Supplementary General <br />Conditions. <br /> <br />5.1.8 Claims <br /> The Contractor shall notify the Owner within 24 hours of any claims or alleged claims received <br />by the Contractor covered by any of the policies of insurance required in this Agreement. The <br />Contractor shall provide a written copy of the claim or alleged claim to the Owner within 3 days <br />of the Contractor's receipt of the claim or alleged claim. If a claim is settled to the satisfaction of <br />the claimant, the Contractor shall submit a copy of the claimant's release to the Owner. If a <br />claim or alleged claim is rejected by the Contractor or its insurance company, the Contractor <br />shall immediately report this fact to the Owner. <br />Should 30 days elapse after the claim or alleged claim has been received by the Contractor, <br />and the Contractor is not able to report a settlement or rejection of the claim, it shall report to the <br />Owner the steps being taken with respect to the claim. Without limiting the foregoing, the <br />Contractor shall notify in writing the county risk manager of any paid or incurred claims which <br />may impair annual aggregate or general liability. <br /> <br />5.1.9 Deductibles and Self-insured Retentions <br /> Any deductibles or self-insured retentions must be declared to and approved by the Owner. At <br />the option of the Owner, either: a) the insurer shall reduce to a maximum of $250,000 or <br />Docusign Envelope ID: EF9C08D2-5B75-438B-8D6D-8473F81BD7C4