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19-039 Griffin Painting, Inc., Arbor Staining and Sealing at Blackberry Farms
CITY OF PUBLIC WORKS CONTRACT $60,000 OR LESS CUPERTINO 1. PARTIES This public works contract("Contract") is made and entered into on March 18, 2019 (`Effective Date") by and between the City of Cupertino, a municipal corporation("City"), and Griffin Painting Inc. , a Corporation ("Contractor") for arbor staining and sealing at Blackberry Farms. 2. SCOPE OF WORK Contractor will perform and provide all labor, materials, equipment, supplies,transportation and any other items or work necessary to perform and complete the work required for the Project("Work"), as required in the Scope of Work, attached here and incorporated as Exhibit A, and in accordance with the terms and conditions of this Contract. 3. TIME FOR COMPLETION 3.1 Term. This Contract begins on the Effective Date and ends on June 30, 2019 ("Contract Time")unless terminated earlier as provided herein. Contractor's Work shall begin on the date shown on a written Notice to Proceed("NTP") and must be fully completed within the Contract Time or on the date specifically provided in the Notice to Proceed. The City Engineer will not issue a NTP until the Contract is fully executed by both parties and City has received satisfactory proof of insurance and any performance and payment bonds that may be required. 3.2 Time is of the essence for Contractor's performance and completion of the Work. Contractor must have sufficient time, resources, and qualified staff to deliver the work on time. 3.3 Liquidated damages of$ 200.00 will be charged for each day of unexcused delay, or City may deduct the amount from Contractor's payments. Liquidated damages are based on reasonably foreseeable consequences of delay and may include intangible losses which the Parties agree may be difficult to ascertain, such as loss of public confidence in City and its contractors, interference or loss of use of public facilities, and extended disruption to the public. 4. COMPENSATION 4.1 Maximum Compensation. City will pay Contractor for satisfactory performance of the Work an amount that will based on actual costs but that will be capped so as not to exceed$24,900.00 ("Contract Price"), for all of Contractor's direct and indirect costs, including all labor,materials, supplies, equipment,taxes, insurance, bonds and all overhead costs. 4.2 Invoices and Payments. Contractor must submit an invoice on the first day of each month, describing the Work performed during the preceding month, itemizing labor, materials, equipment and Public Works Project Blackberry Farms-Arbor Sealing Public Works Contract$60,000/Rev.Jan. 02, 2019 Page 1 of 11 any incidental costs incurred. Contractor will be paid 95% of the undisputed amounts billed within 30 days after City receives a properly submitted invoice. Any retained amounts will be included with Contractor's final payment within 60 days of City's acceptance of the Work as complete. 5. INDEPENDENT CONTRACTOR 5.1 Status. Contractor is an independent contractor and not an employee of City. Contractor is solely responsible for the means and methods of performing the Work and for the persons under this employment. Contractor is not entitled to worker's compensation or any other City benefits. 5.2 Contractor's Qualifications. Contractor warrants on behalf of itself and its subcontractors that they have the qualifications and skills to perform the Work in a competent and professional manner and according to the highest standards and best practices in the industry. 5.3 Permits and Licenses. Contractor warrants on behalf of itself and its subcontractors that they are properly licensed, registered, and/or certified to perform the Work as required by law, and have procured a City Business License. Contractor shall possess a California Contractor's License in good standing for the following classification(s): C33 , which must remain valid for the entire Contract Time. 5.4 Subcontractors. Only Contractor's employees are authorized to work under this Contract. Prior written approval from City is required for any subcontractor, and the terms and conditions of this Contract will apply to any approved subcontractor. 5.5 Tools,Materials and Equipment. Contractor will supply all tools, materials and equipment required to perform the Work under this Contract. 5.6 Payment of Taxes. Contractor must pay income taxes on the money earned under this Contract. Upon City's request, Contractor will provide proof of payment and will indemnify City for violations pursuant to the indemnification provision of this Contract. 6. CHANGE ORDERS Amendments and change orders must be in writing and signed by City and Contractor. Contractor's request for a change order must specify the proposed changes in the Work, Contract Price, and Contract Time. Each request must include all the supporting documentation, including but not limited to plans/drawings, detailed cost estimates, and impacts on schedule and completion date. 7. ASSIGNMENTS, SUCCESSORS Contractor shall not assign, hypothecate, or transfer this Contract or any interest therein, directly or indirectly, by operation of law or otherwise, without prior written consent of City. Any attempt to do so will be null and void. Any changes related to the financial control or business nature of Contractor as a legal entity is considered an assignment of the Contract and subject to City approval, which shall not be unreasonably withheld. Control means fifty percent(501/o) or more of the voting power of the business entity. This Contract is binding on Contractor, its heirs, successors and permitted assigns Public works Project Blackberry Farms -Arbor Sealing Public Works Contract$60,000 iRov.Jan. 02, 2019 Page 2 of.l 1 8. PUBLICITY/SIGNS Any publicity generated by Contractor for the Project during the Contract Time, and for one year thereafter must credit City contributions to the Project. The words "City of Cupertino" must be displayed in all pieces of publicity, flyers, press releases, posters, brochures, interviews, public service announcements and newspaper articles. No signs may be posted or displayed on or about City property, except signage required by law or this Contract, without prior written approval from the City. 9. SUBCONTRACTORS 9.1 Contractor must perform all the Work with its own forces, except that Contractor may hire qualified subcontractors to perform up to 20 % of the Work, provided that each subcontractor is required by contract to be bound by the provisions of this Contract. Contractor must provide City with written proof of compliance with this provision upon request. 9.2 City may reject any subcontractor of any tier and bar a subcontractor from performing Work on the Project, if City in its sole discretion determines that subcontractor's Work falls short of the requirements of this Contract or constitutes grounds for rejection under Public Contract Code Section 4107. If City rejects a subcontractor, Contractor at its own expense must perform the subcontractor's Work or hire a new subcontractor that is acceptable to City. A Notice of Completion must be recorded within 15 days after City accepts the Work if the Contract involves work by subcontractors. 10. RECORDS AND DAILY REPORTS 10.1 Contractor must maintain daily reports of the Work and submit them to City upon request and at completion of Project. The reports must describe the Work and specific tasks performed, the number of workers, the hours, the equipment, the weather conditions, and any circumstances affecting performance. City will have ownership of the reports, but Contractor will be permitted to retain copies. 10.2 If applicable, Contractor must keep a separate set of as-built drawings showing changes and updates to the Scope of Work or the original drawings as changes occur. Actual locations to scale must be identified for all major components of the Work, including mechanical, electrical and plumbing work; HVAC systems; utilities and utility connections; and any other components City determines should be included in the final drawings of the Project. Deviations from the original drawings must be shown in detail, and the location of all main runs, piping, conduit, ductwork, and drain lines must be shown by dimension and elevation. 10.3 Contractor must maintain complete and accurate accounting records of its Work, in accordance with generally accepted accounting principles, which must be available for City review and audit, kept separate from other records, and maintained for four years from the date of City's final payment. Public works Project Blackberry Farms -Arbor Sealing Public Works Contract$60,000/Rev.Jan.02,2019 Page 3 of 11 11. INDEMNIFICATION 11.1 To the fullest extent allowed by law, and except for losses caused by the sole and active negligence or willful misconduct of City personnel, Contractor shall indemnify, defend, and hold harmless City, its City Council, boards and commissions, officers, officials, employees, agents, servants, volunteers and consultants ("Indemnitees"),through legal counsel acceptable to City, from and against any and all liability, damages, claims, stop notices, actions, causes of action, demands, charges, losses and expenses (including attorney fees, legal costs and expenses related to litigation and dispute resolution proceedings), of every nature arising directly or indirectly from this Contract or in any manner relating to any of the following: (a) Breach of contract, obligations,representations or warranties; (b) Performance or nonperformance of the Work or of any obligations under the Contract by Contractor, its employees, agents, servants, subcontractors or subcontractors; (c) Payment or nonpayment by Contractor or its subcontractors or sub-subcontractors for Work performed on or off the Project Site; and (d) Personal injury, property damage, or economic loss resulting from the work or performance of Contractor or its subcontractors or sub-subcontractors. 11.2 Contractor must pay the costs City incurs in enforcing this provision. Contractor must accept a tender of defense upon receiving notice from City of a third-party claim, in accordance with California Public Contract Code Section 9201, At City's request, Contractor will assist City in the defense of a claim, dispute or lawsuit arising out of this Contract. 11.3 Contractor's duties under this entire Section are not limited to Contract Price,Workers' Compensation or other employee benefits, or the insurance and bond coverage required in this Contract. Nothing in the Contract shall be construed to give rise to any implied right of indemnity in favor of Contractor against City or any other Indemnitee. 11.4 Contractor's payments may be deducted or offset to cover any money the City lost due to a claim or counterclaim arising out of this Contract, a purchase order or other transaction. 12. INSURANCE Contractor shall comply with the Insurance Requirements, attached and incorporated here as Exhibit B. Contractor must provide satisfactory proof of insurance and maintain it for the Contract Time or longer as required by City. City will not execute the Contract until City has approved receipt of satisfactory certificates of insurance and endorsements evidencing the type, amount, class of operations covered, and the effective and expiration dates of coverage. Failure to comply with this provision may result in City, at its sole discretion and without notice, purchasing insurance at Contractor's expense, deducting the costs from Contractor's compensation, or terminating the Contract. Public works Project Blackberry Farms - Arbor Sealing _ Public Works Contract$60,000/Rev.Jan. 02,2019 Page 4 of 11 13. COMPLIANCE WITH LAWS 13.1 General Laws. Contractor shall comply with all laws and regulations applicable to this Contract. Contractor will promptly notify City of changes in the law or other conditions that may affect the Project or Contractor's ability to perform. Contractor is responsible for verifying the employment status of employees performing the Work, as required by the Immigration Reform and Control Act 13.2 Labor Laws. (a) Contracts of$1,000 or more are subject to the requirements of the California Labor Code, including but not limited to: (i) Prevailing wage laws under Labor Code Section 1775, which require Contractor to pay prevailing wages applicable in Santa Clara County for each craft, classification, or type of worker needed to perform the Work, including health, pension and vacation. The prevailing wage rates are on file with the City Engineer's office and are available online at bM2://www.dir.ca.gov/DLSR; (ii) Apprenticeship requirements under Labor Code Section 1777.5 for Contacts $30,000 or more; (iii) Maintain certified payroll records in accordance with Labor Code Sections 1776 and 1812, and electronically submit them to the Labor Commissioner as required by the regulations of California, Department of Industrial Relations ("DIR»). (iv) Comply with DIR Monitoring, Enforcement and Registration requirements of Labor Code Section 1725.5. (b) Contractor must compensate workers who are paid less than prevailing wages or required to work more than a legal day's work. Contractor will also be required to pay City a penalty of $ 200.00 per worker for each day of violation. (c) As required by Labor Code Section 1861, by signing this Contract Contractor certifies as follows: "I am aware of Labor Code Section 3700 which requires every employer to be insured against liability for workers' compensation or to undertake self-insurance in accordance with the provisions of that code, and I will comply with such provisions before commencing the Work on this Contract." 13.3 Discrimination Laws. Contractor shall not discriminate on the basis of race, religious creed, color, ancestry, national origin, ethnicity, handicap, disability, marital status, pregnancy, age, sex, gender, sexual orientation, gender identity, Acquired-Immune Deficiency Syndrome(AIDS) or any other protected classification. Contractor shall comply with all anti-discrimination laws, including Government Code Sections 12900 and 11135, and Labor Code Sections 1735, 1777 and 3077.5. Consistent with City policy prohibiting harassment and discrimination, Contractor understands that harassment and discrimination directed toward a job applicant, an employee, a City employee, or any other person, by Contractor or Contractor's employees or sub-contractors will not be tolerated. Public Works Project Slackberry Farms - Arbor Sealing Public Works Contract$60,000/Rev,Jan. 02, 2019 Page 5 of.l I j 13.4 Conflicts of Interest. Contractor, its employees, subcontractors, servants and agents, may not have, maintain or acquire a conflict of interest in relation to this Contract in violation of law, including Government Code section 1090 and Government Code section 81000 and their accompanying regulations. No officer, official, employee, consultant, or other agent of the City("City Representative") may have, maintain, or acquire a"financial interest" in the Contract, as that term is defined by state law, or in violation of a City ordinance or policy while serving as a City Representative or for one year thereafter. Contractor, its employees, subcontractors, servants and agents warrant they are not employees of City or have any relationship with City officials, officers or employees that creates a conflict of interest. Contractor may be required to file a conflict of interest form if it makes certain governmental decisions or serves in a staff capacity,as defined in section 18700 of the California Code of Regulations. Contractor agrees to abide by City rules governing gifts to public officials and employees. 13.5 Remedies.Any violation of Section 13 constitutes a material breach and may result in City suspending payments, requiring reimbursement, or terminating the Contract. City reserves all rights and remedies under the law and this Contract, including seeking indemnification. 14. BONDS For contracts of$25,000 or more, Contractor must obtain a payment bond and a performance bond, each in the penal sum of 100% of the Contract Price, using the Bond Forms attached and incorporated here as Exhibit C. Each bond must be issued by a surety admitted in California, with a financial rating from A.M. Best Company of Class A- or higher, or as otherwise acceptable to City. If an issuing surety cancels a bond or becomes insolvent, Contractor must provide a substitute bond from a surety acceptable to City within seven calendar days after written notice from City. If Contractor fails to do so, City may in its sole discretion and without prior notice,purchase bonds at Contractor's expense, deduct the cost from payments due Contractor, or terminate the Contract. City will not execute the Contract nor issue the NTP until the required bonds are submitted. 15. UTILITIES,TRENCHING AND EXCAVATION 15.1 Contractor must call the Underground Service Alert("USA") 811 hotline and request marking of utility locations before digging or commencing Work. For underground service alerts for street lighting and traffic signal conduits, City's Service Center must be called at(408) 777-3269. Government Code Section 4215 requires Contractor to notify City and Utility in writing if it discovers utilities or utility facilities not identified in the Contract. 15.2 Pursuant to Government Code Section 7104, Contractor must stop work, notify City in writing, and wait for instructions if one of the conditions below is found at the worksite. City will work with Contractor to amend the Contract or issue a change order if the discovered conditions materially change the Work/Performance, Contract Time or Contract Price. (a) Material believed to be hazardous waste under Health and Safety Code Section 25117, and which requires removal to a Class I, Class II, or Class III disposal site pursuant to law; (b) Subsurface or latent physical conditions at the Project worksite differing from those indicated by information about the worksite made available to Contractor; and Public works Project Blackberry Farms -Arbor Sealing Public Works Contract$60,000/Rev.Jan. 02,2019 Page 6 of 11 i I (c) Unknown physical conditions at the Project worksite of any unusual nature, materially different from those ordinarily encountered and from those generally recognized as inherent in the character of the Work. 15.3 For contracts $25,000 or higher that require excavation or involve trenches five feet or more in depth, Contractor must submit a detailed plan for City approval, per Labor Code Section 6705 prior to commencing work. The plan must show the design of shoring, bracing, sloping and other provisions for worker protection from caving ground and other hazards. The protective system must comply with all Construction Safety Orders. If the plan varies from shoring system standards, it must be prepared by a registered civil or structural engineer. 16. URBAN RUNOFF MANAGEMENT 16.1 All Work must fully comply with federal, state and local laws and regulations concerning storm water management. Contractor must avoid creating excess dust when breaking asphalt or concrete and during excavation and grading. If water is used for dust control, Contractor will use only the amount of water necessary to dampen the dust. Contractor will take all steps necessary to keep wash water out of the streets, gutters and storm drains. Prior to the start of the Work, Contractor will implement erosion and sediment controls to prevent pollution of storm drains, and must upgrade and maintain these controls based on weather conditions or as otherwise required by City. These controls must be in place during the entire Contract Time and must be removed at the end of construction and completion of the Work. Such controls must include, but will not be limited to, the following requirements: (a) Install storm drain inlet protection devices such as sand bag barriers, filter fabric fences, and block and gravel filters at all drain inlets impacted by construction. During the annual rainy season, October 15 through June 15, storm drain inlets impacted by construction work must be filter-protected from onsite de-watering activities and saw-cutting activities. Shovel or vacuum saw-cut slurry and remove from the Work site; (b) Cover exposed piles of soil or construction material with plastic sheeting. Store all construction materials in containers; (c) Sweep and remove all materials from paved surfaces that drain to streets, gutters and storm drains prior to rain and at the end of each work day. When the Work is completed, wash the streets, collect and dispose of the wash water offsite in lawful manner; (d) After breaking old pavement, remove debris to avoid contact with rainfall/runoff, (e) Maintain a clean work area by removing trash, litter, and debris at the end of each work day and when Work is completed. Clean up any leaks, drips, and other spills as they occur. 16.2 These requirements must be used in conjunction with the California Stormwater Quality Association and California Best Management Practices Municipal and Construction Handbooks, local program guidance materials from municipalities, and any other applicable documents on stormwater quality controls for construction. Contractor's failure to comply with this Section will result in the issuance of noncompliance notices, citations, Work stop orders and regulatory fines. Public works Project Blackberry Farms - Arbor Sealing Public Works Contract$60,000/Rev.Jan. 02,2019 Page 7 of 11 17. PROJECT COORDINATION City Project Manager. City assigns Brian Gathers as the City representative for all purposes under this Contract, with authority to require compliance with the Scope of Work. City may substitute Project Managers at any time and without prior notice to Contractor. Contractor Project Manager. Subject to City approval, Contractor assigns Mark Griffin as its single representative for all purposes under this Contract, with the responsibility to ensure progress with the Work. Contractor's Project Manager is responsible for coordinating and scheduling the Work and must regularly update the City Project Manager about the status and any delays with the Work, consistent with the Scope of Work. Any substitutions must be approved in writing by City. 18. ABANDONMENT AND TERMINATION 18.1 City may abandon or postpone the Project or parts therefor at any time. Contractor will be compensated for satisfactory Work performed through the date of abandonment and will be given reasonable time to close out the Work. With City's pre-approval in writing, the time spent in closing out the Work will be compensated up to 10% of the total time expended in performing the Work. 18.2 City may terminate the Contract for cause or without cause at any time. Contractor will be paid for satisfactory Work rendered through the termination date and will be given reasonable time to close out the Work. 18.3 Final payment will not be made until Contractor delivers the Work and provides records documenting the Work, products and deliverables completed. Nothing in the Section below is intended to delay, abridge or bar City's right under this Section. 19. GOVERNING LAW, VENUE AND DISPUTE RESOLUTION This Contract is governed by the laws of State of California. Venue for any legal action shall be the Superior Court of the County of Santa Clara, California. The dispute resolution procedures of Public Contract Code Section 20104, incorporated here by reference, apply to this Contract and Contractor is required to continue the Work pending resolution of any dispute. Prior to filing a lawsuit, Contractor must comply with the claim filing requirements of the California Government Code. If the Parties elect arbitration,the arbitrator's award must be supported by law and substantial evidence and include detailed written findings of law and fact. 20. ATTORNEY FEES If City initiates legal action, files a complaint or cross-complaint, or pursues arbitration, appeal, or other proceedings to enforce its rights or a judgment in connection with this Contract,the prevailing party will be entitled to reasonable attorney fees and costs. Public works Project Blackberry Fgrms - Arbor Sealioa Public Works Contract$60,000/Rev,Jan.02,2019 Page 8 of 11 21. SIGNS/ADVERTISEMENT No signs may be displayed on or about City's property, except signage which is required by law or by the Contract, without City's prior written approval as to size, design and location. 22. THIRD PARTY BENEFICIARIES There are no intended third party beneficiaries of this Contract. 23. WAIVER Neither acceptance of the Work nor payment thereof shall constitute a waiver of any contract provision. City waiver of-any breach shall not constitute waiver of another provision or breach. 26. WARRANTY Contractor warrants that materials and equipment used will be new, of good quality, and free from defective workmanship and materials, and that the Work will be free from material defects not intrinsic in the design or materials. All Work, materials and equipment should pass to City free of claims, liens or encumbrances. Contractor warrants the Work and materials for one year from the date of City's acceptance of the Work as complete("Warranty Period"), except when a longer guarantee is provided by a supplier, manufacturer or is required by this Contract. During the Warranty Period, Contractor will repair or replace any Work defects or materials, including damage that arises from Contractor's Warranty Work, except any wear and tear or damage resulting from improper use or maintenance. 27. ENTIRE CONTRACT This Contract and the attachments, documents, and statutes attached,referenced, or expressly incorporated herein, including authorized amendments or change orders constitute the final and complete contract between City and Contractor with respect to the Work and the Project. No oral contract or implied covenant will be enforceable against City. If any attachment or incorporated provisions conflict or are inconsistent with the terms of this Contract, the Contract terms will control. 28. SEVERABILITY/PARTIAL INVALIDITY If a court finds any term or provision of this Contract to be illegal, invalid or unenforceable, the legal portion of said provision and all other contract provisions will remain in full force and effect. 28. SURVIVAL The contract provisions which by their nature should survive the Contract or Completion of Project, including without limitation all warranties, indemnities, payment obligations, insurance and bonds, shall remain in full force and effect after the Work is completed or Contract ends. Public Works Project Blackberry Farms -Arbor Sealing Public Works Contract$60,000/Rev.Jan. 02,2019 Page 9 of 11 29. INSERTED PROVISIONS Each provision and clause required by law to be inserted in this Contract will be deemed to be included and will be inferred herein. Either party may request an amendment to cure mistaken insertions or omissions of required provisions. 30. CAPTIONS The captions, titles, and headings in this Contract are for convenience only and may not be used in the construction or interpretation of the Contract or for any other purpose. 31. COUNTERPARTS This Contract may be executed in counterparts, each of which is an original and all of which taken together shall form one single document. 20. NOTICES All notices, requests, and approvals must be sent in writing to the persons below and will be considered effective on the date of personal delivery, the date confirmed by a reputable overnight delivery service, on the fifth calendar day after deposit in the United States Mail, postage prepaid, registered or certified, or the next business day following electronic submission: To City of Cupertino: To Contractor: 10300 Torre Avenue, Cupertino CA 95014 Griffin Painting Inc. Attention: Ken Tanase Attention: Mark Griffin Copy to: Carl Valdez Copy to: Email: kent(a cupertino.org Email: markpgriffinpainting.com 30. VALIDITY OF CONTRACT This Contract is valid and enforceable only if(a) it complies with the purchasing and contract provisions of Cupertino Municipal Code Chapters 3.22 and 3.23, (b) is signed by the City Manager or an authorized designee, and(c) is approved for form by the City Attorney's Office. 32. EXECUTION The persons signing below warrant they have the authority to enter into this Contract and to legally bind their respective Parties. If Contractor is a corporation, signatures from two officers of the corporation are required pursuant to California Corporations Code Section 313. Public Works Project Blackberry Farms -Arbor 5eaiipa Public Works Contract$60,000/Rev.Jan. 02,2019 Fuge 10 of 11 IN WITNESS WHEREOF, the parties have caused this Contract to be executed as of the Execution Date first above written. CONTRACTOR Griffin Painting Inc. CITY OF CUPERTINO, Corporation a Municipal Corporation By: ��u- By: Z�i �.�-•-- �:Vector (xner Lee eTitle: Owner Titlel'19of Public Works Signature Date: 7 ZI `-j Signature Date: APPROVED AS TO FORM: HEATHER M. MINNER Cupertino City Attorney ATTEST: h By: GRACE SCIMDT, City Cleric Public works Project Blackberry Farms -Arbor Sealing Public Works Contract$60,0001Rev.Jan. 02,2019 Page 11 of 11 Proposal ll Griffin Painting Inc. EXH I BIT 11A 3580 Haven Ave. #2 PROPOSAL: 003565 DATE: 02/15/19 Redwood City, CA 94063 Black Berry Trellis CA Lic# 599026 (650) 368-3190 Fax (650) 368-3192 CLIENT: COCU PROJECT: 023528 City Of Cupertino Black Berry Trellis 10300 Torre Ave. Cupertino, CA 95014-3202 Contractor agrees to furnish all equipment, materials, supplies, services and labor in accordance with all applicable labor, building and Building Plans and Specifications and to complete the following work: Proposal Scope of Work: Attn: Ken Pressure wash using a wood cleaner & brightner. Apply one coat of semi transparent stain by brush and roll. Q �C�v �, 3_ '7 Trellis Work: �� /" � �v C7 � Fac ides: $ 9,810.00 �, M V Windmill: j 1 2c7 1`l v i TOTAL BID: Signed: Dated: Title: Griffin Painting Inc Blackberry Farms - Arbor Sealing Proposal Amount $ 24,900.00 Description Sealing for Blackberry Farms arbor. Account# 100-87-841-700-702 Proposal Amount Description Account# Proposal Amount Description Account# Unforeseeables/Extras SUBTOTAL $ 24,900.00 Contingency $ - CONTRACT TOTAL $ 24,900.00 -/ PW Supervisor Ken Tanase dr/1 Valdez-—Super i endent Date PUBLIC WORKS CONSTRUCTION CONTRACTS Small Projects - $60,000 Insurance Requirements: Exhihit B Contractor shall procure and maintain for the duration of the contract, and for five years following the completion of the Project, insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the work hereunder by Contractor, its agents, representatives, employees or subcontractors. Tovage M SCOPE AND LIlVIIT OF INSURANCE shall be atleast as broad as: ercial General Livability (CGL): Insurance Services Office (ISO) Form CG 00 01 covering CGL on an "occurrence" basis, written on a comprehensive general liability form, and must include coverage for liabili0i arising from Contractor's or Subcontractor's acts or omissions, including Contractor's protected coverage, blanket contractual, products and completed operations,vehicle coverage and employer's non-ownership liability V25coverage, with limits of at least $2,000,000 per occurrence. The CGL policy must protect against any and all iability for personal injury, death, property damage or destruction,and personal and advertising injury.If a general aggregate limit applies, either the general aggregate limit shall apply separately to this project/location (ISO CG 03 or 25 04)or the general aggregate limit shall be twice the required occurrence limit. a. It shall be a requirement under this agreement that any available insurance proceeds broader than or in excess of the specified minimum insurance coverage requirements and/or limits shall be made available to the Additional Insured and shall be(1)the minimum coverage/limits specified in this agreement;or(2)the broader coverage and maximum limits of coverage of any insurance policy,whichever is greater. b. Additional Insured coverage under Contractor's policy shall be "primary and non-contributory,"will not seek contribution from City's insurance/self-insurance,and shall be at least as broad as ISO CG 20 0104 13 c. The limits of insurance required may be satisfied by a combination of primary and umbrella or excess insurance, provided each policy complies with the requirements set forth in this Contract. Any umbrella or excess insurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a primary and non-contributory basis for the benefit of City before the City's own insurance or self-insurance / shall be called upon to protect City as a named insured. Automobile Liability:ISO Form CA 00 01 covering any auto(Code 1),or if Contractor has no owned autos,then *1hired autos (Code 8) and non-owned autos (Code 9), with limit no less than $1,000,000 per accident for bodily \ injury and property damage. /3Workers' Compensation: As required by the State of California, with Statutory Limits, and Employer's Liability Insurance of no less than$1,000,000 per accident for bodily injury or disease,or as otherwise required by statute.If Contractor is self-insured,Contractor must provide a Certificate of Permission to Self-Insure, duly authorized by the DIR. ❑ N/A if box checked(Contractor provides written verification it has no employees). 4. Professional Liability with limits no less than$1,000,000 per occurrence or claim,and$2,000,000 aggregate. 9 N/A if box checked (Contract is not desigwbuild). 5. Builder's Risk. Course of Construction insurance utilizing an "All Risk" (Special Perils) coverage form, with limits equal to the completed value of the project and no coinsurance penalty provisions. RT N/A if box checked (Project does not involve construction or improvements/installations to property). Insurance Requirements for Construction Contracts-$60,000 Version:Jan. 2019 l 6. Contractors' Pollution Legal Liability and/or Asbestos Legal Liability and/or Errors and Omissions with limits no less han$1,000,000 per occurrence or claim,and$2,000,000 policy aggregate. N/A if box checked (Project does not involve environmental hazards). If Contractor maintains broader coverage and/or higher limits than the minimums shown above,City requires and shall be entitled to the broader coverage and/or higher limits maintained by the contractor. Any available insurance proceeds in excess of the specified minimum limits of insurance and coverage shall be available to the City. Self-Insured Retentions. Self-insured retentions must be declared to and approved by City. At City's option, either: (1) Contractor shall cause the insurer to reduce or eliminate self-insured retentions as respects City, its officers, officials, employees, and volunteers; or (2) Contractor shall provide a financial guarantee satisfactory to City guaranteeing payment of losses and related investigations, claim administration, and defense expenses. The policy language shall provide,or be endorsed to provide,that the self-insured retention may be satisfied by either the named insured or the City. OTHER INSURANCE PROVISIONS The insurance policies are to contain,or be endorsed to contain,the following provisions: Additional Insured Status The City of Cupertino,its City Council,officers,officials,employees,agents,servants and volunteers are to be covered as additional insureds on the CGL policy with respect to liability arising out of the Services performed by or on behalf of Contractor including materials, parts, or equipment furnished. Endorsement of CGL coverage shall be at least as broad as ISO Form CG 20 10 11 85 or if not available,through the addition of both CG 20 10,CG 20 26, CG 20 33, or CG 20 38; and CG 20 37 if a later edition is used. Primary Coverage For any claims related to this Project,Contractor's insurance coverage shall be"primary and non-contributory"and at least as broad as ISO CG 20 0104 13 with respect to City,its officers,officials,employees and volunteers,and shall not seek contribution from City's insurance. If the limits of insurance are satisfied in part by Umbrella/Excess Insurance,the Umbrella/Excess Insurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a"primary and non-contributory"basis for the benefit of City. Notice of Cancellation Each insurance policy required shall provide that coverage shall not be canceled,except with notice to the City.Each certificate of insurance must state that the coverage afforded by the policy is in force and will not be reduced,cancelled or allowed to expire without at least 30 days advance written notice to City, unless due to non-payment of premiums, in which case ten days advance written notice must be provided to City. Such notice must be sent to City via certified mail and addressed to the attention of the City Manager. Builder's Risk Contractor may submit Builder's Risk insurance in the form of Course of Construction coverage, which shall name the City as a loss payee, as its interest may appear.The Builder's Risk policy must be issued on an occurrence basis, for all-risk coverage on a 100% completed value basis on the insurable portion of the Project, with no coinsurance penalties,and for the benefit of City.If the Project does not involve new or major reconstruction,City may elect,acting in its sole discretion,to accept an Installation Floater policy instead of Builder's Risk. For such projects,the Property Installation Floater shall include improvement,remodel,modification,alteration,conversion or adjustment to existing buildings, structures, processes, machinery and equipment, and shall provide property damage coverage for any building, structure, machinery or equipment damaged, impaired, broken, or destroyed during the performance of the Work, including during transit, installation,and testing at the City's site. Insurance Requirements for Construction Contracts-$60,000 Version:Jan. 2019 2 i' I.lVaiver of Subrogation Each required policy must include an endorsement providing that the carrier agrees to waive any right of subrogation it may have against City.Contractor agrees to waive rights of subrogation which any insurer of Contractor may acquire from Contractor by virtue of the payment of any loss. Contractor agrees to obtain any endorsement that may be necessary to affect this waiver of subrogation.The Workers' Compensation policy shall be endorsed with a waiver of subrogation in favor of the City for all work performed by the Contractor, its employees,agents and subcontractors. �ceptability of Insurers ,�nsurance must be issued by insurers acceptable to City and licensed to do business in the State of California,and each insurer must have an A.M.Best's financial strength rating of"A"or better and a financial size rating of"VU"or better. Verification of Coverage Contractor shall furnish the City with original certificates and amendatory endorsements, or copies of the applicable insurance language,effecting coverage required by this contract. All certificates and endorsements are to be received and approved by the City before work commences. The City reserves the right to require complete, certified copies of all required insurance policies, including endorsements, required by these specifications,at any time. Subcontractors Contractor shall require and verify that all subcontractors maintain insurance meeting all the requirements stated herein, and Contractor shall ensure that City is an additional insured on insurance required from subcontractors. For CGL coverage subcontractors shall provide coverage with a form at least as broad as CG 20 38 04 13. Surety Bonds As required by Contract and described in the Contract Documents.The Payment and Performance Bonds shall be in a sum equal to the Contract Price. If the Performance Bond provides for a one-year warranty a separate Maintenance Bond is not necessary.If the warranty period specified in the Contract is for longer than one year a Maintenance Bond equal to 10% of the Contract Price is required. Bonds shall be duly executed by a responsible corporate surety, authorized to issue such bonds in the State of California and secured through an authorized agent with an office in California. Special Risks or Circumstances City reserves the right to modify these requirements,based on the nature ofthe risk,prior experience,insurer,coverage, or other circumstances. Insurance Requirements for Construction Contracts-$60,000 Version:Jan.2019 3 I i I A� CERTIFICATE OF LIABILITY INSURANCE 1DATE/7/2019 ) THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER,AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies)must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy,certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER CONTACT Arlene Huerta NAME: Insurance Management Corporation PHONE lAIC. (925)673-2200 FAAICX No (925)673-2212 P.O. Box 1217 EMAIL .arlene@imcinsurance.com ADOR License# 0054731 INSURERS AFFORDING COVERAGE NAIC# Clayton CA 94517 INSURER A James River Insurance Com an INSURED f INSURERB:Flnanclal Indemnity Com an Griffin Painting, Inc. / INSURERC:Tokio Marine Specialty Insurance Compan A-t- 3580 Haven Ave INSURER D:Insurance Company of the West Suite #2 INSUREREArch Specialty Ins Cc Redwood City CA 94063 INSURER F: COVERAGES CERTIFICATE NUMBER:CL141202323 REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES.LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR TYPE OF INSURANCE POLICY EFF POLICY EXP LTR POLICY NUMBER MM/DD/YYYY MM/DDIYYYY LIMITS GENERAL LIABILITY EACH OCCURRENCE $ i 1,000,000 X COMMERCIAL GENERAL LIABILITY MAGE TO RENTED D2019 1/1/2020- REMISES Ea occurrence $ 100,000 A CLAIMS-MADE � X X 000680320 /1/ OCCUR MED EXP(Any one person) $ 5,000 PERSONAL&ADV INJURY $ .1,000,000 GENERAL AGGREGATE $ 2,000,000 GEN'L AGGREGATE LIMIT APPLIES PER: PRODUCTS-COMP/OP AGG $ 2,000,000 POLICY -X] PRO LOC $ AUTOMOBILE LIABILITY EOM�BIINdEeDtSINGLE LIMIT $ 1,000,000 B Ix ANY AUTO BODILY INJURY(Per person) $ ALL OWNED SCHEDULED X X 4128734021 /1/2019 1/1/2020" BODILYINJURY(Peraccident) $ AUTOS AUTOS HIRED AUTOS X NON-OWNED PROPERTY DAMAGE $ AUTOS Per accident Hired/borrowed $ UMBRELLA LIA9 OCCUR EACH OCCURRENCE $ (.., 5,000,000 C X EXCESS LIAB HCLAIMS-MADE I AGGREGATE $ 5,000,000 DED RETENTION$ PUB660007 /1/20191/1/2020v $ D WORKERS COMPENSATIONWC STATUOTH- AND EMPLOYERS'LIABILITY YIN X Y L I - ER ANY PROPRIETOR/PARTNER/EXECUTIVE -.L.EACH ACCIDENT $ 1,000,000 OFFICER/MEMBER EXCLUDED? NIA (Mandatory in NH) X wSA5035369-02✓ /1/2019 1/1/20201V E.L.DISEASE-EA EMPLOYE $ 1 000 000 If yes,describe under DESCRIPTION OF OPERATIONS below E.L.DISEASE-POLICY LIMIT 1$ 1 000 000 E Contractors Pollution Each Claim 1,000,000 Liability 12CPL1187200 5/11/2018 5/11/2019 Policy Aggreagate 2,000,000 DESCRIPTION OF OPERATIONS/LOCATIONS I VEHICLES (Attach ACORD 101,Additional Remarks Schedule,if more space is required) The City of Cupertino, including its City Council, boards and commissions, officers, officials, agents, consultants and volunteers shall be named as additional insured with respects to the General Liability and Auto Liability for All CA Operations. Waiver of subrogation shall be applied to the General Liability, Auto Liability and Workers Comp. Insurance shall be primary and non-contributory CERTIFICATE HOLDER CANCELLATION 10 Day Notice of Cancellation for Non Payinent of Premium. City of Cupertino SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN 10300 Torre Ave. ACCORDANCE WITH THE POLICY PROVISIONS. Cupertino, CA 95014-3202 AUTHORIZED REPRESENTATIVE Arlene Huerta ACORD 25(2010/05) ©1988-2010 ACORD CORPORATION. All rights reserved. INS025(201005).01 The ACORD name and logo are registered marks of ACORD v THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. PRIMARY AND NON CONTRIBUTORY ENDORSEMENT This endorsement modifies insurance provided under the following: ALL COVERAGE PARTS Name Of Additional Insured Person(s) Or Organization(s): The City of Cupertino, including its City Council, boards and commissions, officers, officials, agents, consultants and volunteers If no entry appears above, this endorsement applies to all Additional Insureds covered under this policy. Any coverage provided to an Additional Insured under this policy shall be excess over any other valid and collectible insurance available to such Additional Insured whether primary, excess, contingent or on any other basis unless a written contract or written agreement specifically requires that this insurance apply on a primary and noncontributory basis. ALL OTHER TERMS AND CONDITIONS OF THE POLICY REMAIN UNCHANGED. Griffin Painting Inc 01/01/2019 - 01/01/2020 Policy No. 000880320 AP5031 US 04-10 Page 1 of 1 POLICY NUMBER:00088032-0 ✓ COMMERCIAL GENERAL LIABILITY CG 20 37 07 04 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. ADDITIONAL INSURED - OWNERS, LESSEES OR CONTRACTORS - COMPLETED OPERATIONS This endorsement modifies insurance provided under the following: COMMERCIAL GENERAL LIABILITY COVERAGE PART SCHEDULE Name Of Additional Insured Person(s) Location And Description Of Completed Opera- Or Organization(s): tions The City of Cupertino, including its City Council, boards and commissions, officers, officials, agents, consultants and volunteers Information required to complete this Schedule, if not shown above, will be shown in the Declarations. Section II —Who Is An Insured is amended to include as an additional insured the person(s) or organiza- tions) shown in the Schedule, but only with respect to liability for"bodily injury" or"property damage" caused, in whole or in part, by"your work" at the location desig- nated and described in the schedule of this endorse- ment performed for that additional insured and included in the"products-completed operations hazard". CG 20 37 07 04 ©ISO Properties, Inc., 2004 Page 1 of 1 ❑ POLICY NUMBER: 00088032-0 ✓ COMMERCIAL GENERAL LIABILITY CG 24 04 05 09 WAIVER OF TRANSFER OF RIGHTS OF RECOVERY AGAINST OTHERS TO US This endorsement modifies insurance provided under the following: COMMERCIAL GENERAL LIABILITY COVERAGE PART PRODUCTS/COMPLETED OPERATIONS LIABILITY COVERAGE PART SCHEDULE Name Of Person Or Organization: The City of Cupertino, including its City Council, boards and commissions, officers, officials, agents, consultants and volunteers Information required to complete this Schedule, if not shown above, will be shown in the Declarations. The following is added to Paragraph 8. Transfer Of We waive any right of recovery we may have against Rights Of Recovery Against Others To Us of the person or organization shown in the Schedule Section IV—Conditions: above because of payments we make for injury or damage arising out of your ongoing operations or "your work" done under a contract with that person or organization and included in the "products- completed operations hazard". This waiver applies only to the person or organization shown in the Schedule above. CG 24 04 05 09 ©Insurance Services Office, Inc., 2008 Page 1 of 1 ❑ Kemper Specialty Financial Indemnity Company POLICY NUMBER:412873402 BUSINESS AUTOMOBILE LIABILITY Griffin Painting Inc. 01/01/2019 - 01/01/2020 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY DESIGNATED INSURED ENDORSEMENT (CA 20 48) Name of Person(s)or Organization(s) The City of Cupertino, including its City Council, boards and commissions, officers, officials, agents, consultants and volunteers BUSINESS AUTO COVERAGE Each person or organization indicated above is an"insured"for Liability Coverage, but only to the extent that person or organization qualifies as an "insured"under the Who Is An Insured provision contained in SECTION II of the Coverage Form. CA20 48 07 87 Kemper Specialty Financial Indemnity Company POLICY NUMBER:412873402 Griffin Painting Inc. 01/01/2019-01/01/2020 15. AUTO LEASE PHYSICAL DAMAGE 17. BLANKET WAIVER OF SUBROGATION EXTENSION Paragraph 5. Transfer Of Rights Of Recovery The following is added to SECTION III— Against Others To Us, SECTION IV— PHYSICAL DAMAGE COVERAGE, C. Limit Of BUSINESS AUTO CONDITIONS, A. Loss Insurance provision: Conditions is replaced by the following: 6. If, because of damage, destruction or theft 5. Transfer Of Rights Of Recovery of a covered "auto", which is a long-term Against Others To Us leased "auto", the lease agreement between If any person or organization to or for you and the lessor is terminated, "we"will whom we make payment under this pay the difference between the amount paid Coverage Form has rights to recover under paragraph C. LIMIT OF INSURANCE damages from another, which have 1. or 2. and the amount due at the time of not been waived through the "loss" under the terms of the lease execution of an "insured contract", agreement applicable to the leased "auto" written agreement, or permit, prior to which you are required to pay: less any fees the"accident"or"loss"giving rise to to dispose of the auto; any overdue the payment, those rights to recover payments; financial penalties imposed under damages from another are transferred a lease for excessive use, abnormal wear to us. That person or organization and tear or high mileage; security deposits must do everything necessary to not refunded by the lessor; cost for extended secure our rights and must do nothing warranties, Credit Life Insurance, Health, Accident or Disability Insurance purchased after the"accident" or"loss"to impair with the loan; and carry over balances from them. previous leases. This coverage applies only to the initial lease for 18. UNINTENTIONAL FAILURE TO the covered "auto"which has not previously DISCLOSE INFORMATION been leased. This coverage is excess over all The following is added to SECTION IV other collectible insurance. g BUSINESS AUTO CONDITIONS. B. General Conditions, paragraph 2. Concealment, SECTION IV—BUSINESS AUTO CONDITIONS Misrepresentation Or Fraud: Your unintentional error in disclosing, or 16. DUTIES IN THE EVENT OF ACCIDENT, failure to disclose, any material fact existing CLAIM, SUIT OR LOSS after the effective date of this Coverage The following is added to SECTION IV— Form shall not prejudice your rights under BUSINESS AUTO CONDITION, A. Loss this Coverage Form. However, this Conditions, 2. Duties In The Event Of provision does not affect our right to collect Accident, Claim, Suit Or Loss: additional premium or exercise our right of cancellation or nonrenewal. d. Knowledge of any"accident", claim, "suit"or"loss"will be deemed knowledge by you when notice of such SECTION V—DEFINITIONS "accident", claim, "suit" or"loss" has been received by: 19. MENTAL ANGUISH (1) You, if you are an individual; Paragraph C. "Bodily Injury", SECTION V— (2) Any partner or insurance manager if DEFINITIONS is replaced by the following: you are a partnership; or (3) An executive office or insurance C. "Bodily Injury" means bodily injury, sickness manager if you are a corporation. or decease sustained by a person including death or mental anguish resulting from any of these. Includes copyrighted material of Insurance Services Office, Inc. with permission. Copyright, Insurance Services Office, Inc., 1996 6 WORKERS COMPENSATION AND EMPLOYERS LIABILITY INSURANCE POLICY WC 04 03 06 WAIVER OF OUR RIGHT TO RECOVER FROM OTHERS ENDORSEMENT - CALIFORNIA We have the right to recover our payments from anyone liable for an injury covered by this policy. We will not enforce our right against the person or organization named in the Schedule. (This agreement applies only to the extent that you perform work under a written contract that requires you to obtain this agreement from us.) You must maintain payroll records accurately segregating the remuneration of your employees while engaged in the work described in the Schedule. The additional premium for this endorsement shall be 2%of the California workers' compensation premium otherwise due on such remuneration. SCHEDULE PERSON OR ORGANIZATION JOB DESCRIPTION ANY PERSON OR ORGANIZATION FOR WHOM THE BLANKET WAIVER OF SUBROGATION NAMED INSURED HAS AGREED BY WRITTEN CONTRACT TO FURNISH THIS WAIVER This endorsement changes the policy to which it is attached and is effective on the date issued unless otherwise stated. (The information below is required only when this endorsement is issued subsequent to preparation of the policy.) Endorsement Effective: 01/01/2019 Policy No.WSA5035369-02 Insured: Griffin Painting,Inc. Premium$INCL. Insurance Company: ICW GROUP Insurance Company Countersigned By: -1998 by the Workers'Compensation Insurance Rating Bureau of California.All rights reserved From the WCIRB's California Workers'Compensation Insurance Forms Manual-1999. James Bider Insurance Company A.M.Best#:012604 NAIC#:12203 FEIN#:222824607 Mailing Address View Additional Address Information P.O. Box 27648 FirmInciW Shwaih Rafmg Richmond,VA 23261 United States Web:www.jamesriverins.com A Bc, lant Phone:804-289-2700 Assigned to insurance companies that have, Fax:804-420-1054 in our opinion,an excellent ability to meet their ongoing insurance obligations. View additional news,reports and products for this company. Based on A.M.Best's analysis,055488-James River Group Holdings, Ltd.is the AMB Ultimate Parent and identifies the topmost entity of the corporate structure.View a list of operating insurance entities in this structure. Best's Credit Ratings Financial Strength Rating View Definition I Rating: A(Excellent) Affiliation Code: g(Group) Financial Size Category: X($500 Million to$750 Million) Outlook: Stable Action: Affirmed Effective Date: August 14,2018 Initial Rating Date: July 03,2003 i Long-Term Issuer Credit Rating View Definition Long-Term: a Outlook: Stable Action: Affirmed 1 Effective Date: August 14,2018 Initial Rating Date: November 18,2005 I u Denotes Under Review Best's Rating Best's Credit Rating Analyst i I Rating Office:A.M.Best Rating Services, Inc. I I Associate Director: Robert Raber Senior Director: Gregory T.Williams Note:See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. i Disclosure Information Disclosure Information Form View A.M.Best's Rating Disclosure Form Press Release A.M.Best Affirms Credit Ratings of James River Group Holdings Ltd and Subsidiaries;Assigns Credit Ratings to Carolina Re Ltd August 14,2018 Rating History A.M.Best has provided ratings&analysis on this company since 2003. Financial Strength Rating Effective DateRating 8/14/2018 A j 8/18/2017 A 7/29/2016 A 6/26/2015 A- 5/20/2014 A- I, Long-Term Issuer Credit Rating Effective DateRating 8/14/2018 a 8/18/2017 a 7/29/2016 a 6/26/2015 a- 5/20/2014 a- Best's Credit Reports Best's Credit Report -Where applicable,includes Best's Financial Strength Rating and rationale along with comprehensive analytical - commentary,detailed business overview and key financial data. Report Revision Date: 10/3/2018(represents the latest significant change). 1=' Historical Reports are available in Best's Credit Report Archive. View additional news,reports and products for this company. Press Releases Date Title Aug 14,2018 A.M.Best Affirms Credit Ratings of James River Group Holdings Ltd and Subsidiaries;Assigns Credit Ratings to Carolina Re Ltd Feb 23,2018 A.M.Best Comments on Credit Ratings of JRG Reinsurance Company,Ltd.and Its Affiliates Aug 18,2017 A.M.Best Affirms Credit Ratings of JRG Reinsurance Company,Ltd.and Its Affiliates Jul 29,2016 A.M.Best Upgrades Ratings of JRG Reinsurance Company,Ltd.and Its Affiliates Jun 26,2015 A.M.Best Assigns Rating to James River Group Holdings,Ltd.and Affirms Ratings of Its Subsidiaries May 20,2014 A.M.Best Revises Outlook for Ratings of JRG Reinsurance Company,Ltd.and Its Affiliates Jan 23,2013 A.M.Best Affirms Ratings of JRG Reinsurance Company,Ltd.and Certain Affiliates Nov 03,2011 A.M.Best Places Ratings of Infinity Specialty Insurance and Infinity General Insurance Under Review With Negative Implications Sep 30,2009 A.M.Best Assigns Ratings to James River Casualty Company Jun 12,2007 A.M.Best Comments on the Announced Acquisition of James River Group,Inc.by the D.E.Shaw Group i i 1 2 Page size: 10 12 items in 2 pages Find a Best's Credit Rating Enter a Company Name Go 1. Advanced Search How to Get a Best's Credit Rating Acr Best's Credit Ratings1 Mobile App European Union Disclosures A.M.Best-Europe Rating Services Limited(AMBERS),a subsidiary of A.M.Best Rating Services,Inc.,is an External Credit Assessment Institution(ECAI)in the European Union (EU).Therefore,Credit Ratings issued and endorsed by AMBERS may be used for regulatory purposes in the EU as per Directive 2006/48/EC. A.M.Best(EU)Rating Services B.V.(AMB-EU),a subsidiary of A.M.Best Rating Services,Inc.,is an External Credit Assessment(ECAI)in the EU.Therefore,credit ratings issued and endorsed by AMB-EU may be used for regulatory purposes in the EU as per Directive 2006/48/EC. Australian Disclosures A.M.Best Asia-Pacific Limited(AMBAP),Australian Registered Body Number(ARBN No.150375287),is a limited liability company incorporated and domiciled in Hong Kong. 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Financial Indemnity Company A.M.Best#:000391 NAIC#:19852 FEIN#:951466743 Administrative Office View Additional Address Information 8360 LBJ Freeway Suite 400 FirmcW ShingM RAfing Dallas,TX 75243 — United States Web:www.kemper.com A' x.a1t Phone:972-690-5500 Assigned to insurance companies that have, in our opinion,an excellent ability to meet their ongoing insurance obligations. View additional news,reports and products for this company. Based on A.M.Best's analysis,058711 -Kemper Corporation is the AMB Ultimate Parent and identifies the topmost entity of the corporate structure. View a list of operating insurance entities in this structure. Best's Credit Ratings Financial Strength Rating View Definition Rating: A-(Excellent) 7 Affiliation Code: r(Reinsured) Financial Size Category: XIII($1.25 Billion to$1.5 Billion) Outlook: Stable Action: Affirmed Effective Date: January 18,2019 I Initial Rating Date: June 30, 1950 Long-Term Issuer Credit Rating View Definition Long-Term: a- Outlook: Stable Action: Affirmed Effective Date: January 18,2019 Initial Rating Date: April 28,2006 u Denotes Under Review Best's Rating Best's Credit Rating Analyst Rating Office:A.M.Best Rating Services, Inc. Senior Financial Analyst: Michael T.Venezia Director:Jacqalene Lentz,CPA Note:See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. Disclosure Information Disclosure Information Form View A.M.Best's Rating Disclosure Form Press Release AM Best Removes From Under Review and Affirms Credit Ratings of Kemper Corporation and Most of Its Subsidiaries and Affiliates January 18,2019 Rating History A.M.Best has provided ratings&analysis on this company since 1950. Financial Strength Rating Effective Date Rating 1/18/2019 A- 7/13/2018 A-u 2/15/2018 A-u 9/28/2017 A- 7/29/2016 A- 7/15/2015 A- 712/2014 A- i Long-Term Issuer Credit Rating j Effective DateRating 1/18/2019 a- 7/13/2018 a-u 2/15/2018 a-u 9/28/2017 a- 7/29/2016 a- 7/15/2015 a- 7/2/2014 a- Best's Credit Reports l Best's Credit Report Where applicable,includes Best's Financial Strength Rating and rationale along with comprehensive analytical commentary,detailed business overview and key financial data. Report Revision Date:2/6/2019(represents the latest significant change). 1=i Historical Reports are available in Best's Credit Report Archive. Y View additional news,reports and products for this company. Press Releases 1 Date Title Jan 18,2019 AM Best Removes From Under Review and Affirms Credit Ratings of Kemper Corporation and Most of Its Subsidiaries and Affiliates Jul 13,2018 A.M.Best Maintains Under Review Status for Kemper Corp.,Its Affiliates and Subs.Following Infinity P&C Corp.Acquisition I Feb 15,2018 A.M.Best Places Credit Ratings of Kemper Corporation,Its Affiliates and Subsidiaries Under Review With Developing Implications Sep 26,2017 A.M.Best Affirms Credit Ratings of Kemper Corporation,Its Affiliates and Subsidiaries Jul 29,2016 A.M.Best Affirms Ratings of Kemper Corporation,Its Affiliates and Subsidiaries Jul 15,2015 A.M.Best Affirms Ratings of Kemper Corporation,Its Affiliates and Subsidiaries i Jul 02,2014 A.M.Best Affirms Ratings of Kemper Corporation,Its Affiliates and Subsidiaries Jun 18,2013 A.M.Best Affirms Ratings of Kemper Corporation,Its Affiliates and Subsidiaries Jun 15,2012 A.M.Best Affirms Ratings of Kemper Corporation,Its Subsidiaries and Affiliates May 13,2011 A.M.Best Affirms Ratings of Unitrin,Inc.and Its Subsidiaries i i 1 2 Page size: 10 19 items in 2 pages Find a Best's Credit Rating Enter a Company Name Go Advanced Search How to Get a A+ Best's Credit Rating ♦E✓ Best's Credit Ratings Mobile App European Union Disclosures A.M.Best-Europe Rating Services Limited(AMBERS),a subsidiary of A.M.Best Rating Services,Inc.,is an External Credit Assessment Institution(ECAI)in the European Union (EU).Therefore,Credit Ratings issued and endorsed by AMBERS may be used for regulatory purposes in the EU as per Directive 2006/48/EC. 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Important Notice:A.M.Best's Credit Ratings are independent and objective opinions,not statements of fact.A.M.Best is not an Investment Advisor,does not offer investment advice of any kind,nor does the company or its Ratings Analysts offer any form of structuring or financial advice.A.M.Best's credit opinions are not recommendations to buy,sell or hold securities,or to make any other investment decisions.For additional information regarding the use and limitations of credit rating opinions,as well as the rating process, information requirements and other rating related terms and definitions,please view Understanding Best's Credit Ratings. About Us I Site Map I Customer Service I My Account I Contact I Careers I Terms of Use I Privacy Policy I Security I Legal&Licensing Regulatory Affairs-Form NRSRO-Code of Conduct-Rating Methodology-Historical Performance Data Copyright©2019 A.M.Best Company,Inc.and/or its affiliates ALL RIGHTS RESERVED. Tokio Marine America Insurance Company A.M.Best#:012340 NAIC#:10945 FEIN#:134032666 Domiciliary Address 1221 Avenue of the Americas Suite 1500 FimmcW Mbrlimo ngfmg New York,NY 10020-1001 United States y Web:www.tmamerica.com A++ Superior Phone:212-297-6600 Assigned to insurance companies that have Fax:212-297-6062 in our opinion,a superior ability to meet their ongoing insurance obligations. View additional news,reports and products for this company. Based on A.M.Best's analysis,058633-Tokio Marine Holdings, Inc.is the AMB Ultimate Parent and identifies the topmost entity of the corporate structure.View a list of operating insurance entities in this structure. Best's Credit Ratings Financial Strength Rating View Definition Rating: A++(Superior) Affiliation Code: g(Group) Financial Size Category: XV($2 Billion or greater) Outlook: Stable Action: Affirmed Effective Date: August 17,2018 Initial Rating Date: June 14,2000 Long-Term Issuer Credit Rating View Definition Long-Term: aa+ Outlook: Stable Action: Affirmed Effective Date: August 17,2018 Initial Rating Date: April 26,2007 u Denotes Under Review Best's Rating Best's Credit Rating Analyst Rating Office:A.M.Best Rating Services, Inc. Associate Director: Robert Raber Senior Director: Gregory T.Williams Note:See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. Disclosure Information Disclosure Information Form View A.M.Best's Rating Disclosure Form i Press Release A.M.Best Affirms Credit Ratings of Tokio Marine&Nichido Fire Insurance Co.,Ltd.and Its U.S.Subsidiaries August 17,2018 j Rating History A.M.Best has provided ratings&analysis on this company since 2000. Financial Strength Rating Effective DateRating 8/17/2018 A++ 8/18/2017 A++ 8/19/2016 A++ 8/2112015 A++ 8/22/2014 A++ 5/15/2014 A++ 8/22/2013 A++ Long-Term Issuer Credit Rating Effective DateRating 8/17/2018 aa+ 8/18/2017 aa+ 8/19/2016 aa+ 8/21/2015 aa+ 8/22/2014 aa+ 5/15/2014 aa+ 8/22/2013 aa+ Related Financial and Analytical Data The following links provide access to related data records that A.M.Best utilizes to provide financial and analytical data on a consolidated or branch basis. AMB# Company Name Company Description 019428 Tokio Marine America Group(CS) Represents Property/Casualty business of this legal entity. 002927 Tokio Marine America Group(SG) Represents the A.M.Best Consolidated financials for the Property/Casualty business of this legal entity. Best's Credit Reports v"1p Best's Credit Report -Where applicable,includes Best's Financial Strength Rating and rationale along with comprehensive analytical commentary,detailed business overview and key financial data. Report Revision Date:9/17/2018(represents the latest significant change). l Historical Reports are available in Best's Credit Report Archive. VC -} L - View additional news,reports and products for this company. Press Releases Date Title Aug 17,2018 A.M.Best Affirms Credit Ratings of Tokio Marine&Nichido Fire Insurance Co.,Ltd.and Its U.S.Subsidiaries Aug 18,2017 A.M.Best Affirms Credit Ratings of Tokio Marine&Nichido Fire Insurance Co.,Ltd.and Its U.S.Subsidiaries Aug 19,2016 A.M.Best Affirms Ratings of Tokio Marine America Insurance Company and Its Subsidiaries Aug 21,2015 A.M.Best Affirms Ratings of Tokio Marine America Insurance Company and Its Affiliates Aug 22,2014 A.M.Best Affirms Ratings of Tokio Marine America Insurance Company and Its Affiliates May 15,2014 A.M.Best Affirms Ratings of Tokio Marine America Insurance Company and Its Reinsured Affiliates Aug 22,2013 A.M.Best Affirms Ratings of Tokio Marine and Nichido Fire Insurance Co.,Ltd.(US Branch)and Its Reinsured Affiliates Jun 20,2012 A.M.Best Affirms Ratings of Tokio Marine and Nichido Fire Insurance Co.,Ltd.(U.S.Branch)and Its Subsidiaries Jan 06,2011 A.M.Best Affirms Ratings of Tokio Marine&Nichido Fire US Group and TNUS Insurance Company Nov 09,2009 A.M.Best Affirms Ratings of Tokio Millennium Re Ltd. 1 2 Page size: 10 12 items in 2 pages Find a Best's Credit Rating Enter a Company Name Advanced Search How to Get a Best's Credit Rating A� Best's Credit Ratings Mobile App European Union Disclosures A.M.Best-Europe Rating Services Limited(AMBERS),a subsidiary of A.M.Best Rating Services,Inc.,is an External Credit Assessment Institution(ECAI)in the European Union (EU).Therefore,Credit Ratings issued and endorsed by AMBERS may be used for regulatory purposes in the EU as per Directive 2006148/EC. A.M.Best(EU)Rating Services B.V.(AMB-EU),a subsidiary of A.M.Best Rating Services,Inc.,is an External Credit Assessment(ECAI)in the EU.Therefore,credit ratings issued and endorsed by AMB-EU may be used for regulatory purposes in the EU as per Directive 2006/48/EC. Australian Disclosures A.M.Best Asia-Pacific Limited(AMBAP),Australian Registered Body Number(ARBN No.150375287),is a limited liability company incorporated and domiciled in Hong Kong. AMBAP is a wholesale Australian Financial Services(AFS)Licence holder(AFS No.411055)under the Corporations Act 2001.Credit ratings emanating from AMBAP are not intended for and must not be distributed to any person in Australia other than a wholesale client as defined in Chapter 7 of the Corporations Act.AMBAP does not authorize its Credit Ratings to be disseminated by a third-party in a manner that could reasonably be regarded as being intended to influence a retail client in making a decision in relation to a particular product or class of financial product.AMBAP Credit Ratings are intended for wholesale clients only,as defined. Credit Ratings determined and disseminated by AMBAP are the opinion of AMBAP only and not any specific credit analyst.AMBAP Credit Ratings are statements of opinion and not statements of fact.They are not recommendations to buy,hold or sell any securities or any other form of financial product,including insurance policies and are not a recommendation to be used to make investment/purchasing decisions. Important Notice:A.M.Best's Credit Ratings are independent and objective opinions,not statements of fact.A.M.Best is not an Investment Advisor,does not offer investment advice of any kind,nor does the company or its Ratings Analysts offer any form of structuring or financial advice.A.M.Best's credit opinions are not recommendations to buy,sell or hold securities,or to make any other investment decisions.For additional information regarding the use and limitations of credit rating opinions,as well as the rating process, information requirements and other rating related terms and definitions,please view Understanding Best's Credit Ratings. I About Us (Site Map i Customer Service i My Account I Contact i Careers I Terms of Use i Privacy Policy I Security i Legal&Licensing Regulatory Affairs-Form NRSRO-Code of Conduct-Rating Methodology-Historical Performance Data Copyright©2019 A.M.Best Company,Inc.and/or its affiliates ALL RIGHTS RESERVED. I Insurance Company of the West A.M.Best#:004667 NAIC#:27847 FEIN#:952769232 Mailing Address View Additional Address Information - - P.O.Box 509039 Rnmcfid g* iig San Diego,CA 92150-9039 United States ` i 1��. Web:www.icwgroup.com A E.00llent_ Phone: 858-350-2400 Assigned to insurance companies that have, Fax:858-350-2792 in our opinion,an excellent ability to meet their ongoing insurance obligations. View additional news,reports and products for this company. Based on A.M.Best's analysis,051656-Ernest Rady Trust is the AMB Ultimate Parent and identifies the topmost entity of the corporate structure.View a list of operating insurance entities in this structure. Best's Credit Ratings Financial Strength Rating View Definition Rating: A(Excellent) Affiliation Code: p(Pooled) Financial Size Category: XII($1 Billion to$1.25 Billion) Outlook: Stable Action: Upgraded I Effective Date: October 18,2018 Initial Rating Date: June 30, 1978 Long-Term Issuer Credit Rating View Definition Long-Term: a i Outlook: Stable Action: Upgraded Effective Date: October 18,2018 Initial Rating Date: July 30,2007 i u Denotes Under Review Best's Rating Best's Credit Rating Analyst Rating Office:A.M.Best Rating Services, Inc. Financial Analyst:Samiksha Gupta Associate Director: Robert Raber Note:See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. I Disclosure Information Disclosure Information Form View A.M.Best's Rating Disclosure Form Press Release A.M.Best Upgrades Credit Ratings of Insurance Company of the West and Its Subsidiaries October 18,2018 Rating History A.M.Best has provided ratings&analysis on this company since 1978. Financial Strength Rating Effective Date Rating 10/18/2018 A 10/6/2017 A- 9/15/2016 A- 9/17/2015 A- 9/4/2014 A- Long-Term Issuer Credit Rating Effective DateRating 10/18/2018 a 10/6/2017 a- 9/15/2016 a- 9/17/2015 a- 9/4/2014 a- Best's Credit Reports Best's Credit Report -Where applicable, includes Best's Financial Strength Rating and rationale along with comprehensive analytical commentary,detailed business overview and key financial data. Report Revision Date:1/17/2019(represents the latest significant change). Historical Reports are available in Best's Credit Report Archive. View additional news,reports and products for this company. Press Releases Date Title Oct 18,2018 A.M.Best Upgrades Credit Ratings of Insurance Company of the West and Its Subsidiaries Oct 06,2017 A.M.Best Revises Outlooks to Positive for Insurance Company of the West and Its Subsidiaries i Find a Best's Credit Rating - - Enter a Company Name Go Advanced Search How to Get a Best's Credit Rating A� Best's Credit Ratings Mobile App {,�J�J European Union Disclosures A.M.Best-Europe Rating Services Limited(AMBERS),a subsidiary of A.M.Best Rating Services,Inc.,is an External Credit Assessment Institution(ECAI)in the European Union (EU).Therefore,Credit Ratings issued and endorsed by AMBERS may be used for regulatory purposes in the EU as per Directive 2006/48/EC. A.M.Best(EU)Rating Services B.V.(AMB-EU),a subsidiary of A.M.Best Rating Services,Inc.,is an External Credit Assessment(ECAI)in the EU.Therefore,credit ratings issued and endorsed by AMB-EU may be used for regulatory purposes in the EU as per Directive 2006148/EC. Australian Disclosures A.M.Best Asia-Pacific Limited(AMBAP),Australian Registered Body Number(ARBN No.150375287),is a limited liability company incorporated and domiciled in Hong Kong. AMBAP is a wholesale Australian Financial Services(AFS)Licence holder(AFS No.411055)under the Corporations Act 2001.Credit ratings emanating from AMBAP are not intended for and must not be distributed to any person in Australia other than a wholesale client as defined in Chapter 7 of the Corporations Act.AMBAP does not authorize its Credit Ratings to be disseminated by a third-party in a manner that could reasonably be regarded as being intended to influence a retail client in making a decision in relation to a particular product or class of financial product.AMBAP Credit Ratings are intended for wholesale clients only,as defined. Credit Ratings determined and disseminated by AMBAP are the opinion of AMBAP only and not any specific credit analyst.AMBAP Credit Ratings are statements of opinion and not statements of fact.They are not recommendations to buy,hold or sell any securities or any other form of financial product,including insurance policies and are not a recommendation to be used to make investment/purchasing decisions. Important Notice:A.M.Best's Credit Ratings are independent and objective opinions,not statements of fact.A.M.Best is not an Investment Advisor,does not offer investment advice of any kind,nor does the company or its Ratings Analysts offer any form of structuring or financial advice.A.M.Best's credit opinions are not recommendations to buy,sell or hold securities,or to make any other investment decisions.For additional information regarding the use and limitations of credit rating opinions,as well as the rating process, information requirements and other rating related terms and definitions,please view Understanding Best's Credit Ratings. { About Us Site Map i Customer Service i My Account I Contact i Careers i Terms of Use i Privacy Policy i Security i Legal&Licensing Regulatory Affairs-Form NRSRO-Code of Conduct-Rating Methodology-Historical Performance Data Copyright©2019 A.M.Best Company,Inc.and/or its affiliates ALL RIGHTS RESERVED. II Arch Specialty Insurance Company A.M.Best#:012523 NAIC M 21199 FEIN#:362545393 Administrative Office View Additional Address Information � Harborside 3 210 Hudson Street Suite 300 Pimm,dd SIgM RAng Jersey City, NJ 07311-1107 United States �� T Web:www.archinsurance.com A+ Su ( Phone:201-743-4000 Assigned to insurance companies that have, Fax:201-743-4005 in our opinion,a superior ability to meet their ongoing insurance obligations. View additional news,reports and products for this company. Based on A.M.Best's analysis, 058459-Arch Capital Group Ltd.is the AMB Ultimate Parent and identifies the topmost entity of the corporate structure. View a list of operating insurance entities in this structure. Best's Credit Ratings Financial Strength Rating View Definition a Rating: A+(Superior) Affiliation Code: g(Group) Financial Size Category: XV($2 Billion or greater) Outlook: Stable Action: Affirmed Effective Date: October 11,2018 Initial Rating Date: April 30,2002 Long-Term Issuer Credit Rating View Definition Long-Term: aa- Outlook: Stable Action: Affirmed Effective Date: October 11,2018 Initial Rating Date: October 26,2004 u Denotes Under Review Best's Rating Best's Credit Rating Analyst Rating Office:A.M.Best Rating Services, Inc. Director:Steven M.Chirico,CPA Senior Director: Robert B. DeRose Note:Seethe Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. Disclosure Information Disclosure Information Form View A.M.Best's Rating Disclosure Form Press Release A.M.Best Revises Outlooks to Stable for Arch Reinsurance Ltd.and Its Subsidiaries October 11,2018 Rating History A.M.Best has provided ratings&analysis on this company since 2002. Financial Strength Rating Effective Date Rating 10/11/2018 A+ 8/30/2017 A+ 8/17/2016 A+u 8/21/2015 A+ 3/20/2014 A+ l Long-Term Issuer Credit Rating Effective Date Rating 10/11/2018 aa- 8/30/2017 aa- 8/17/2016 aa-u 8/21/2015 aa- 3/20/2014 aa- Best's Credit Reports ! ,Best's Credit Report Where applicable,includes Best's Financial Strength Rating and rationale along with comprehensive analytical commentary,detailed business overview and key financial data. Report Revision Date: 11/28/2018(represents the latest significant change). Historical Reports are available in Best's Credit Report Archive. View additional news,reports and products for this company. Press Releases Date Title Oct 11,2018 A.M.Best Revises Outlooks to Stable for Arch Reinsurance Ltd.and Its Subsidiaries Aug 30,2017 A.M.Best Removes From Under Review,Affirms Credit Ratings of Arch Capital and Its Subsidiaries;Assigns Negative Outlooks Jan 03,2017 A.M.Best Comments on Credit Ratings of Arch Capital Group and Its Subsidiaries Following Closing of United Guaranty Corporation Aug 17,2016 A.M.Best Places Ratings of Arch Capital Group Ltd.and Its Subsidiaries Under Review With Developing Implications Mar 20,2014 A.M.Best Affirms Ratings of Arch Capital Group Ltd and Its Subsidiaries Jan 24,2013 A.M.Best Affirms Ratings of Arch Reinsurance Ltd.and Its Operating Affiliates Jan 23,2012 A.M.Best Upgrades Ratings of Arch Re Ltd.and Its Operating Affiliates Feb 01,2011 A.M.Best Revises Outlook to Positive for Arch Capital Group Ltd and Its Subsidiaries Dec 15,2009 A.M.Best Affirms Ratings of Arch Reinsurance Ltd.and Its Affiliates Oct 08,2008 A.M.Best Upgrades Issuer Credit Ratings of Arch Reinsurance Ltd.and Affiliates J 1 2 Page size: 10 16 items in 2 pages Find a Best's Credit Rating Enter a Company Name Go Advanced Search How to Get a Best's Credit Rating Aa Best's Credit Ratings Mobile App �\��► ) European Union Disclosures A.M.Best-Europe Rating Services Limited(AMBERS),a subsidiary of A.M.Best Rating Services,Inc.,is an External Credit Assessment Institution(ECAI)in the European Union (EU).Therefore,Credit Ratings issued and endorsed by AMBERS may be used for regulatory purposes in the EU as per Directive 2006/48/EC. A.M.Best(EU)Rating Services B.V.(AMB-EU),a subsidiary of A.M.Best Rating Services,Inc.,is an External Credit Assessment(ECAI)in the EU.Therefore,credit ratings issued and endorsed by AMB-EU may be used for regulatory purposes in the EU as per Directive 2006/48/EC. Australian Disclosures A.M.Best Asia-Pacific Limited(AMBAP),Australian Registered Body Number(ARBN No.150375287),is a limited liability company incorporated and domiciled in Hong Kong. AMBAP is a wholesale Australian Financial Services(AFS)Licence holder(AFS No.411055)under the Corporations Act 2001.Credit ratings emanating from AMBAP are not intended for and must not be distributed to any person in Australia other than a wholesale client as defined in Chapter 7 of the Corporations Act.AMBAP does not authorize its Credit Ratings to be disseminated by a third-party in a manner that could reasonably be regarded as being intended to influence a retail client in making a decision in relation to a particular product or class of financial product.AMBAP Credit Ratings are intended for wholesale clients only,as defined. Credit Ratings determined and disseminated by AMBAP are the opinion of AMBAP only and not any specific credit analyst.AMBAP Credit Ratings are statements of opinion and not statements of fact.They are not recommendations to buy,hold or sell any securities or any other form of financial product,including insurance policies and are not a recommendation to be used to make investment/purchasing decisions. Important Notice:A.M.Best's Credit Ratings are independent and objective opinions,not statements of fact.A.M.Best is not an Investment Advisor,does not offer investment advice of any kind,nor does the company or its Ratings Analysts offer any form of structuring or financial advice.A.M.Best's credit opinions are not recommendations to buy,sell or hold securities,or to make any other investment decisions.For additional information regarding the use and limitations of credit rating opinions,as well as the rating process, information requirements and other rating related terms and definitions,please view Understanding Best's Credit Ratings. About Us I Site Map I Customer Service I My Account I Contact I Careers I Terms of Use I Privacy Policy I Security I Legal&Licensing Regulatory Affairs-Form NRSRO-Code of Conduct-Rating Methodology-Historical Performance Data Copyright©2019 A.M.Best Company,Inc.and/or its affiliates ALL RIGHTS RESERVED.