Common use of General Requirements for Insurance Coverage and Policies Clause in Contracts

General Requirements for Insurance Coverage and Policies. A. Unless otherwise stated, all insurance required by Section 42.3 of this Agreement must: 1. be provided by companies that may lawfully issue such policies; 2. have an A.M. Best rating of at least A- / VII, a Standard & Poor’s rating of at least A, a ▇▇▇▇▇’▇ Investors Service rating of at least A3, a Fitch Ratings rating of at least A- or a similar rating by any other nationally recognized statistical rating organization acceptable to the New York City Law Department unless prior written approval is obtained from the New York City Law Department; and 3. be primary (and non-contributing) to any insurance or self-insurance maintained by the City (not applicable to professional liability insurance/errors and omissions insurance) and any other entity listed as an additional insured in Schedule A.