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with the Local Government Prompt Payment Act (2007) , Section 218 . 70 , Florida Statutes, et seq . 7 . INSURANCE. 7 . 1 . The Actuary shall not commence to perform the Services under this Agreement until it has obtained all the insurance required under this Agreement , and such certificates of insurance have been approved by the County's Risk Manager. A certificate of insurance shall be provided to the County' s Risk Manager for review and approval ten ( 10) days prior to commencement of any Services under this Agreement . The insurance company must have a rating by A. M . Best Company of no less than "A" : Excellent. All such certificates of insurance or an endorsement provided by the Actuary must state that, , should any of the required insurance policies be cancelled before the expiration date thereof, the issuing insurer will endeavor to mail thirty (30) days written notice to Indian River County as the certificate holder, but failure to do so shall impose no obligation or liability of any kind upon the insurer, its agents or representatives . . 7 . 2 . Actuary shall procure and maintain , for the duration of this Agreement , the minimum insurance coverage as set forth herein . The cost of such insurance shall be included in the Actuary's fee : 7 . 2 . 1 . Workers' compensation to meet statutory limits in the State of Florida and Employer's Liability with limits of not less than $ 100 , 000 per employee per accident ; $ 500 , 000 disease aggregate ; and $ 100 ,000 em ployee per disease . 7 . 2 . 2 . Commercial General Liability with a minimum combined single limit of $500 , 000 per occurrence for bodily injury and property damage . This is to include premises/operations , products/completed operations , contractual liability and independent contractors coverage . 7 . 2 . 3 . Business Auto Liability with a minimum combined single limit of $500 , 000 per occurrence for bodily injury and property damage . This is to include owned , hired , and non-owned autos . 7 .2 . 4 . Professional liability with a minimum limit of $500 , 000 per occurrence . 7 . 3 . The County is to be an additional insured on the commercial general liability and business automobile liability policies . 7 . 4 . The County , by and through its Risk Manager, reserves the right periodically to review any and all policies of insurance and reasonably to adjust the limits of coverage required hereunder, from time to time throughout the term of this Agreement. In such event , the County shall provide the Actuary with separate written notice of such adjusted limits and Actuary shall comply within thirty (30) days of receipt thereof. The failure by Actuary to provide such additional coverage may constitute a default by Actuary and may be grounds for termination of this Agreement by the County . 4