Agenda -11-06-2008 - 4p - Laserfiche WebLink

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-way be construed to limit or eliminate the liability -of the Contractor, which arises from performance of Work under the Agreement. The Con_ tractor is strictly responsible for any losses, claims, and costs of any kind which exceed the Contractor's limits of liability, or which may be outside the coverage scope of the policies.. The insurance specified shall be provided by an insurer approved by the CMAR, authorized - to do such business in the State of North Carolina, and on.terms approved by the CMAR. Insurance companies utilized shall have a minimum rating of A- and Class VII as evaluated by the most current A.M. Best Rating Guide. If the insurer has a Best Racing less than A- and Class VII, the Contractor must receive specific written approval from the CMAR prior to proceeding with any Work under the Agreement. All agents and brokers shall hold valid licenses from the State of North Carolina. The Contractor shall furnish to the CMAR a certificate or certificates of insurance in a form satisfactory. to the - CMAR contemporaneously with the executed Construction Agreement. * Upon request of the CMAR, the Contractor shall provide the CMAR with certified copies. of the Insurance policies required by this Article, including without limitation declaration pages, conditions, exclusions and endorsements, and confirmation that each policy premium has been paid for the required term of this Agreement. Certificates of insurance shall. be signed by a person authorized by that insurer to bind coverage on its behalf. All insurance policies shall provide, as evidenced by Certificates of insurance, that the insurance shall not be canceled, reduced, restricted, or changed In. any way without at least thirty (30) days prior written notice to the CMAR and the*.Owner. With _regard to expiration, cancellation, reduction, restriction, or any other change, . certificates shall state: -"Should any of the following described policies be canceled before expiration date or be due to expire within thirty (30) days, the insurer shall -mall th€rty (30) days prior written notice to named certificate holder. In the event of any such - cancellation, non - renewal, reduction, restriction, or change in any insurance; the Contractor is obligated to replace such insurance within seven (7) days without a gap in coverage and file accordingly such notice with the CMAR and the Owner, and other interested parties. Failing Immediate receipt of evidence of such replacement of insurance, the CMAR reserves the right to procure such insurance as the CMAR considers desirable and the Contractor shall.pay or reimburse the cost of the premium in respect thereof. It is expressly provided, However, that any action or inaction on the part of the CMAR in this respect shall in no way change or reduce the Contractor's responsibilities and liabilities under this Agreement. Self- funded, policy fronting, or other non -risk transfer insurance mechanisms are not acceptable without prior written approval of the CMAR. Full disclosure of such a program must be made prior to commencing mobilization to the Project site. Failure to make a full disclosure constitutes a material breach of the Agreement, justifying termination for default. The Contractor shall name the CMAR, the Owner, the Designer and their. respective consultants as additional insureds under all its insurance contracts (except workers' compensation) with respect to and including without -.- limitation liability arising out of activities performed by or on behalf of the Contractor; products and completed operations of the Contractor, and automobiles owned, hired, leased, or borrowed by the Contractor. The coverage shall contain no special limitations on the scope of protection afforded to additional insureds. For any calms related to this Project, the Contractor's insurance or self - insurance shall be primary and noncontributory with respect to the CMAR, Owner or Designer insurance. Any insurance or self - insurance maintained by the CMAR, the Owner or the Designer shall be excess and noncontributory with respect to the Contractors insurance. All policies of insurance except as noted in paragraph 5.2 shall contain a clause waiving rights of subrogation against the CMAR, the Owner and the. Designer, unless the CMAR approves otherwise in writing: GENERAL CONDITIONS FOR CM AT RiSK PROJECT -9 of 42 JUNE 2007 EDITION