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<br />1.12 Precaution shall be exercised by the Contractor at all times for the <br />protection of persons, (including employees) and property. All existing <br />structures, utilities, roads, services, trees and shrubbery shall be protected <br />against damage or interruption of service at all times by the Contractor <br />and its subcontractors during the term of the Contract, and the Contractor <br />shall be held responsible for any damage to property occurring by reason <br />of its operation on the property. <br /> <br />1.14 All required insurance coverage must be acquired from insurers <br />authorized to do business in the State of Texas and acceptable to the <br />City. The City prefers that all insurers also have a policyholder's rating of <br />"A-" or better, and a financial size of "Class VI" or better in the latest <br />edition of A.M. Best, or A or better by Standard and Poors; exceptions to <br />this policy may only be approved in writing by the City Manager or City <br />Finance Director. <br /> <br />1.15 The City will consider deductible amounts as part of its review of the <br />financial stability of the bidder. Any deductibles shall be disclosed in the <br />Checklist and all deductibles will be assumed by the Contractor. <br />ContractorNendor may be required to provide proof of financial ability to <br />cover deductibles, or may be required to post a bond to cover deductibles. <br /> <br />2. Contractor's Insurance - "Occurrence" Basis: <br /> <br />2.1 The Contractor shall purchase the following insurance coverage, including <br />the terms, provisions and limits shown in the Checklist. <br /> <br />2.1.1 Commercial General Liability - Such Commercial General Liability <br />policy shall include any or all of the following as indicated on the <br />Checklist: <br /> <br />I. General aggregate limit is to apply per project. <br /> <br />ii. Premises/Operations: <br /> <br />iii. Actions of Independent Contractors; <br /> <br />IV. Products/Completed Operations to be maintained for one <br />year. Final completion and acceptance of the work, with <br />evidence of same filed with owner. <br /> <br />v. Contractual Liability including protection for the Contractor <br />from claims arising out of liability assumed under this <br />contract; <br /> <br />vi. Personal Injury Liability including coverage for offenses <br />related to employment; <br /> <br />vii. Explosion, Collapse, or Underground (XCU) hazards; if <br />applicable. Coverage required for any and all work <br />