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<br />8.5 <br /> <br />The Engineer agrees to procure and maintain <br /> <br />at <br /> <br />its <br /> <br />expense <br /> <br />until <br /> <br />final <br /> <br />payment <br /> <br />by <br /> <br />the <br /> <br />Owner <br /> <br />for <br /> <br />services <br /> <br />covered <br /> <br />by <br /> <br />this <br /> <br />Agreement, insurance in the kinds and amounts hereinafter provided with <br /> <br />insurance companies authorized to do business in the <br /> <br />State <br /> <br />of <br /> <br />Texas, <br /> <br />covering <br /> <br />all <br /> <br />operations under this Agreement, whether performed by it <br /> <br />or its agents or employees. <br /> <br />Before commencing the <br /> <br />Work <br /> <br />the <br /> <br />Engineer <br /> <br />shall <br /> <br />furnish <br /> <br />to <br /> <br />the <br /> <br />Owner <br /> <br />a <br /> <br />certificate <br /> <br />or certificates in form <br /> <br />satisfactory to the Owner showing <br /> <br />that <br /> <br />it <br /> <br />has <br /> <br />complied <br /> <br />with <br /> <br />this <br /> <br />paragraph. <br /> <br />All certificates shall provide that the policy shall not be <br /> <br />changed <br /> <br />or <br /> <br />cancelled <br /> <br />until at least thirty (30) days' written notice <br /> <br />shall have been given to the Owner. <br /> <br />Kinds <br /> <br />and <br /> <br />amounts <br /> <br />of <br /> <br />insurance <br /> <br />required are as follows: <br /> <br />Workmen's <br /> <br />Compensation <br /> <br />Insurance: <br /> <br />Workmen's <br /> <br />Compensation <br /> <br />Insurance for its employees in accordance with the <br /> <br />provisions <br /> <br />of <br /> <br />the <br /> <br />Workmen's Compensation Act of the State of Texas. <br /> <br />Liability <br /> <br />Insurance: <br /> <br />Professional Liability Insurance in an <br /> <br />amount not less than $500,000 per <br /> <br />claim <br /> <br />and <br /> <br />$500,000 <br /> <br />aggregate <br /> <br />and <br /> <br />automobile <br /> <br />liability insurance in an amount not less than $500,000 for <br /> <br />bodily injury, property <br /> <br />damage, <br /> <br />and <br /> <br />personal <br /> <br />injuries <br /> <br />in <br /> <br />any <br /> <br />one <br /> <br />accident <br /> <br />or <br /> <br />anyone occurrence to protect the Engineer and its agents <br /> <br />and employees from claims which may arise from services rendered <br /> <br />under <br /> <br />the Agreement, whether such services are rendered by the Engineer or by <br /> <br />any <br /> <br />of <br /> <br />its <br /> <br />agents <br /> <br />or <br /> <br />by <br /> <br />anyone employed by either. <br /> <br />Engineer its <br /> <br />successors and assigns, hereby agree to maintain <br /> <br />the <br /> <br />same <br /> <br />type <br /> <br />and <br /> <br />amounts <br /> <br />of <br /> <br />professional <br /> <br />liability coverage(s) to cover Engineer's <br /> <br />liability on this project(s) for as long as it is reasonably <br /> <br />available <br /> <br />after <br /> <br />the <br /> <br />completion <br /> <br />of <br /> <br />this <br /> <br />Agreement <br /> <br />or until the expiration of <br /> <br />applicable statute(s) of limitations, whichever first occurs. <br /> <br />Insurance carriers insuring the Engineer in <br /> <br />accordance <br /> <br />with <br /> <br />this Agreement which are not rated by the most recent edition of Best's <br /> <br />Key Rating Guide, Property-Casualty published by A.M. Best Company, or <br /> <br />insurance <br /> <br />carriers <br /> <br />having <br /> <br />a rating lower than A XIII as shown in the <br /> <br />most recent edition of said book, will not be approved by Owner <br /> <br />unless <br /> <br />a <br /> <br />guaranty <br /> <br />bond <br /> <br />acceptable <br /> <br />to <br /> <br />Owner from a carrier rated A XIII or <br /> <br />higher guaranteeing payment of any and all claims against the <br /> <br />Engineer <br /> <br />is furnished to Owner. <br /> <br />-14- <br />