Laserfiche WebLink
Exhibit H <br /> Liability Insurance Increase <br /> To Be Used Only If Insurance Requirements Are Increased <br /> The professional liability limit of the CONSULTANT to the AGENCY identified in Section XII, Legal Relations <br /> and Insurance of this Agreement is amended to $ . <br /> The CONSULTANT shall provide Professional Liability insurance with minimum per occurrence limits in the <br /> amount of$ . <br /> Such insurance coverage shall be evidenced by one of the following methods: <br /> • Certificate of Insurance. <br /> • Self-insurance through an irrevocable Letter of Credit from a qualified financial institution. <br /> Self-insurance through documentation of a separate fund established exclusively for the payment of professional <br /> liability claims, including claim amounts already reserved against the fund, safeguards established for payment <br /> from the fund, a copy of the latest annual financial statements, and disclosure of the investment portfolio for <br /> those funds. <br /> Should the minimum Professional Liability insurance limit required by the AGENCY as specified above exceed <br /> $1 million per occurrence or the value of the contract, whichever is greater, then justification shall be submitted <br /> to the Federal Highway Administration(FHWA) for approval to increase the minimum insurance limit. <br /> If FHWA approval is obtained, the AGENCY may, at its own cost,reimburse the CONSULTANT for the additional <br /> professional liability insurance required. <br /> Notes: Cost of added insurance requirements: $ . <br /> • Include all costs, fee increase, premiums. <br /> • This cost shall not be billed against an FHWA funded project. <br /> • For final contracts, include this exhibit. <br /> Agreement Number: LA-9863 <br /> Exhibit H-Local Agency A&E Professional Services Cost Plus Fixed Fee Consultant Agreement Revised 01/01/2020 Page 1 of 1 <br />