Common use of Qualified Insurers Clause in Contracts

Qualified Insurers. The policy or policies of insurance must be issued by an insurer licensed to do business in the state of California (California Admitted Carrier) or have a minimum rating of A- (Secure A.M. Best's Rating) and VIII (Financial Size Category as determined by the most current edition of the Best's Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx If the insurance carrier is not an admitted carrier in the state of California and does not have an A.M. Best rating of A-/VIII, the CEO/Office of Risk Management retains the right to approve or reject a carrier after a review of the company's performance and financial ratings. The policy or policies of insurance maintained by the Contractor shall provide the minimum limits and coverage as set forth below: Coverage Minimum Limits Commercial General Liability with broad form $1,000,000 combined single property damage and contractual liability $2,000,000 aggregate Automobile Liability including coverage $1,000,000 per occurrence for owned, non-owned and hired vehicles Workers' Compensation Statutory Employers' Liability Insurance $1,000,000 per occurrence Professional Liability Insurance $5,000,000 per claims made or per occurrence Required Coverage Forms The Commercial General Liability coverage shall be written on Insurance Services Office (ISO) form CG 00 01, or a substitute form providing liability coverage at least as broad. The Business Auto Liability coverage shall be written on ISO form CA 00 01, CA 00 05, CA 0012, CA 00 20, or a substitute form providing coverage at least as broad.

Qualified Insurers. The policy or policies of insurance must be issued by an insurer licensed to do business in the state State of California (California Admitted Carrier) or have a minimum rating of A- (Secure A.M. Best's Rating) and VIII (Financial Size Category as determined by the most current edition of the Best's Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. Minimum insurance company ratings as determined by the most current edition of the Best's Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx shall be A- (Secure Best's Rating) and VIII (Financial Size Category). If the insurance carrier is not an a non-admitted carrier in the state State of California California, and does not have an A.M. Best rating of A-/VIII, the CEO/Office of Risk Management retains the right to approve or reject a carrier after a review of the company's ’s performance and financial ratings. The policy or policies of insurance maintained by the Contractor shall provide the minimum limits and coverage as set forth below: Coverage Minimum Limits Commercial General Liability with broad form $1,000,000 combined single property damage and contractual liability limit per occurrence $2,000,000 aggregate Automobile Liability including coverage $1,000,000 per occurrence combined single for owned, non-owned and hired vehicles limit per occurrence Workers' Compensation Statutory Employers' Liability Insurance $1,000,000 per occurrence Professional Liability Insurance $5,000,000 per claims made or per occurrence Required Coverage Forms The Commercial General Liability coverage shall be written on Insurance Services Office (ISO) form CG 00 01, or a substitute form providing liability coverage at least as broad. The Business Auto Liability coverage shall be written on ISO form CA 00 01, CA 00 05, CA 0012, CA 00 20, or a substitute form providing coverage at least as broad.