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  2. Finance Committee - Agenda - 9/4/2019 - P31

Finance Committee - Agenda - 9/4/2019 - P31

By dnadmin on Mon, 11/07/2022 - 13:03
Document Date
Fri, 08/30/2019 - 13:47
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 09/04/2019 - 00:00
Page Number
31
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__090420…

capacity, and their successors and _assignees, as they now, or as they may
hereafter be constituted , singly, jointly or severally.

Primary Insurance The referenced policies and any Excess or Umbrella
policies shall indicate that they are primary to any other insurance and the
insurance company(ies) providing such policy(ies) shall be liable thereunder
for the full amount of any loss or claim, up to and including the total limit of
liability, without right of contribution from any of the insurance affected or which
may be affected by the City of Nashua.

Severability of Interests or Cross Liability The referenced policies and any
Excess or Umbrella policies shall contain either a Cross Liability endorsement
or Severability of Interest Clause and stipulate that inclusion of the City of
Nashua as an Additional Insured shall not in any way affect the City of
Nashua’s rights either as respects any claim, demand, suit or judgment made,
brought or recovered against the Contractor. Said policy _ shall protect Seller and
the City of Nashua in the same manner as though a separate policy had been
issued to each, but nothing in said policy shall operate to increase the

insurance company’s liability as set forth in its policy beyond the amount or
amounts shown or to which the insurance company would have been liable if
only one interest had been named as an insured.

. Evidence of Insurance

All Coverages — Prior to commencing work, Seller shall provide the City of
Nashua with a certificate of insurance evidencing coverage, and upon
request, a certified | duplicate original of the policy. The certificate shall also
show that the Contractor’s _ policy(ies) will not be cancelled or coverage altered
without 30 days prior written notice to the City of Nashua.

General Provisions

Notice of Cancellation — The policies shall provide that the Contractor’s
policies will not be cancelled or have limits reduced or coverage altered
without 30 days prior written notice to the City of Nashua.

Acceptable Insurers — All policies will be issued by insurers with a Best’s
Rating of A- 10 or better.

Self-Insurance — Upon evidence of financial capacity satisfactory to the City
of Nashua and Contractor’s agreement to waive subrogation against the City of
Nashua respecting any and all claims that may arise, Contractor’s obligation
hereunder may be satisfied in whole or in part by adequately funded self-
insurance.

Failure to Maintain Insurance — All insurance specified above shall remain

in force until all work to be performed is satisfactorily completed and the work
has been formally accepted. The failure to procure or maintain required

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Finance Committee - Agenda - 9/4/2019 - P31

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