(The Contract Manager must answer and initial 2, 3, and 4 below).

During the term of this contract Accountants shall maintain in force at its own expense, each insurance noted below:

1.  Workers Compensation insurance in compliance with ORS 656.017, which requires subject employers to provide Oregon workers' compensation coverage for all their subject workers (contractors with one or more employees, unless exempt under ORS 656.027).

2.  General Liability insurance with a combined single limit of not less than $500,000 each occurrence for Bodily Injury and Property Damage. It shall include contractual liability coverage for the indemnity provided under this contract, and shall provide that City of Portland, and its agents, officers, and employees are Additional Insured but only with respect to the Contractor's services to be provided under this Contract:

_ _ _ Required and attached or Waived by City Attorney ______                

3.  Automobile Liability insurance with a combined single limit of not less than $500,000 each occurrence for Bodily Injury and Property Damage, including coverage for owned, hired, or non-owned vehicles, as applicable:

_____ Required and attached or Waived by City Attorney _____

4.  Professional Liability insurance with a combined single limit of not less than $1,000,000 each claim, incident, or occurrence. This is to cover damages caused by error, omission or negligent acts related to the professional services to be provided under this contract.

_____ Required and attached or Waived by City Attorney _____

On all types of required insurance: There shall be no lapse, cancellation, material change, reduction of limits, or intent not to renew the insurance coverage(s) without 30-days written notice from the Contractor or its insurer(s) to the Contract Manager. Failure to maintain required insurance coverage continually for the duration of this contract shall be cause for immediate termination by any Auditee.

5.  Certificates of insurance. As evidence of the insurance coverages required by this contract, the Contractor shall furnish acceptable insurance certificates to the City at the time the contractor returns the signed contracts. The certificate(s) shall name the City of Portland, it’s officers, agents and employees as Additional Insureds and will include a clause that provides that the insurance shall not terminate or be cancelled without 30 days prior written notice first being given to the Contract Manager. Insuring companies or entities are subject to City acceptance. If requested, copies of the complete policies shall be provided to the City. The Accountants shall be financially responsible for all pertinent deductibles, self-insured retentions, and/or self-insurance.