(a) The contractor shall provide an adequate policy of insurance specifically including insurance for civil rights claims as determined by a risk management or actuarial firm with demonstrated experience in public liability for state governments. In determining the adequacy of the policy, such risk management or actuarial firm shall determine whether:

1. (1) The insurance is adequate to protect the state, its political subdivisions or other contracting agencies from actions by a third party against the contractor;
2. (2) The insurance is adequate to protect the state, its political subdivisions or contracting agencies against claims arising as a result of any occurrence; and
3. (3) The insurance is adequate to satisfy other requirements specified by the risk management or actuarial firm.