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" Surety expressly agrees to be bound by all terms and conditions relating to liquidated , delay and time or impact related damages , and is responsible for any and all warranty obligations or damages as a result of latent defects or deficiencies in the work performed under the Contract Documents incorporated herein or as provided for by Florida law . " ( B ) Contractor's Surety agrees , moreover, to be bound by all terms and conditions related to delay and liquidated damages . Except as otherwise agreed to in writing , the Contractor' s Surety waives all rights against the Owner and any of its agents and employees , for damages or other causes of loss by Contractor' s Surety performance of its obligations under the performance bond , including claims by Contractor' s Surety against the Owner for costs it asserts were not warranted by these Contract Documents and excluding only such rights as they have to proceeds of such insurance held by the Owner as fiduciary . This waiver of subrogation shall be effective as to a person or entity even though that person or entity would otherwise have a duty of indemnification , contractual or otherwise , did not pay the bond premium directly or indirectly , and whether or not the person or entity had an insurable or suretyship interest in the property allegedly damaged . ( C ) To be acceptable to The Owner of as Surety for this Project , a Surety Company shall comply with the following provisions : ( 1 ) The Surety Company shall have a currently valid Certificate of Authority , issued by the State of Florida Department of Insurance , authorizing it to write surety bonds in the State of Florida . (2 ) The Surety Company shall have currently valid Certificate of Authority issued by the United States Department of Treasury under Sections 9304 to 9308 of Title 31 of the United States Code . ( 3 ) The Surety Company shall be in full compliance with the provisions of the Florida Insurance Code . (4) The Surety Company shall have at least twice the minimum surplus and capital required by the Florida Insurance Code at the time the invitation to Proposal is issued . ( 5 ) The Surety Company shall have at least the ratings of A-Class V in the latest issue of Best' s Key Rating Guide . ( 6) The Surety Company shall not expose itself to any loss on any one risk in an amount exceeding ten ( 10 ) percent of its surplus to policyholders , provided : (a ) Any risk or portion of any risk being reinsured shall be deducted in determining the limitation of the risk as prescribed in this section . These minimum requirements shall apply to the reinsuring carrier providing authorization or approval by the State of Florida , Department of Insurance to do business in this state have been met. ( b) In the case of the surety insurance company, in addition to the deduction for reinsurance , the amount assumed by any co-surety , the value of any security deposited , pledged or held subject to the consent of the surety and for the protection of the surety shall be deducted . GC 47 INSURANCE . 1 . The Contractor shall maintain and pay for such insurance , issued in the name of the Owner and naming the Owner as an Additional Insured , with such coverages as will protect the Owner from contingent liability under the Contract, as set forth in the Special Conditions 2 . Coverages . See Special Conditions . 3 . The Certificate of Insurance and policy endorsements or riders shall name the County as 45 12/1/2009 3:45:46 PM