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b. The Contractor agrees to procure and maintain, at its own cost, the <br />following policy or policies of insurance. The Contractor shall not be relieved of any liability, <br />claims, demands, or other obligations assumed pursuant to this Agreement by reason of its <br />failure to procure or maintain insurance, or by reason of its failure to procure or maintain <br />insurance in sufficient amounts, durations, or types. Contractor shall procure and maintain, and <br />shall cause each Subcontractor of the Contractor to procure and maintain (or shall insure the <br />activity of Contractor's Subcontractors in Contractor's own policy with respect to), the minimum <br />insurance coverages listed below. Such coverages shall be procured and maintained with forms <br />and insurers acceptable to the City. In the case of any claims-made policy, the necessary <br />retroactive dates and extended reporting periods shall be procured to maintain such continuous <br />coverage. <br />(1) Workers' Compensation insurance to cover obligations imposed by the <br />Workers' Compensation Act of Colorado and any other applicable laws for <br />any employee engaged in the performance of Work under this contract, and <br />Employers' Liability insurance with minimum limits of FIVE HUNDRED <br />THOUSAND DOLLARS ($500,000) each accident, FIVE HUNDRED <br />THOUSAND DOLLARS ($500,000) disease - policy limit, and FIVE <br />HUNDRED THOUSAND DOLLARS ($500,000) disease - each employee. <br />Evidence of qualified self-insured status may be substituted for the Workers' <br />Compensation requirements of this paragraph. <br />(2) Comprehensive General Liability insurance with minimum combined single <br />limits of TWO MILLION DOLLARS ($2,000,000) each occurrence and <br />TWO MILLION DOLLARS ($2,000,000) aggregate. The policy shall be <br />applicable to all premises and operations. The policy shall include coverage <br />for bodily injury, broad form property damage (including completed <br />operations), personal injury (including coverage for contractual and employee <br />acts), blanket contractual, independent contractors, products, and completed <br />operations. The policy shall include coverage for explosion, collapse, and <br />underground hazards. The policy shall contain a severability of interests’ <br />provision. <br />(3) Comprehensive Automobile Liability insurance with minimum combined <br />single limits for bodily injury and property damage of not less than ONE <br />MILLION DOLLARS ($1,000,000) each occurrence and ONE MILLION <br />DOLLARS ($1,000,000) aggregate with respect to each of CONTRACTOR's <br />owned, hired or non-owned vehicles assigned to or used in performance of the <br />services. The policy shall contain a severability of interests’ provision. <br />(4) The CONTRACTOR shall provide and maintain builder's risk insurance upon <br />the entire project equal to one hundred percent (100%) of the insurable value <br />thereof. Such insurance shall cover any and all physical damage including, <br />without limitation, damage caused by fire, vandalism, malicious mischief, <br />blasting, excessive surface runoff or storm water, high winds and other <br />occurrences covered in a standard extended coverage endorsement. The <br />30 <br /> <br />