(A) Any company franchised hereunder shall carry insurance, to protect the village and the franchisee from and against all claims, demands, actions, judgments, costs, expenses and liabilities which may arise or result, directly or indirectly, from, or by reason of, the loss, injury or damage.
(B) The amounts of the insurance against liability due to physical damages to property shall not be less than $25,000 as to any one accident, and not less than $200,000 aggregate in any single policy year; and against liability due to bodily injury or to death of persons, not less than $100,000 as to any one person and not less than $300,000 as to any one accident.
(C) All policies shall be maintained and in effect for the entire life of any franchise term.
(D) Certificates of the insurance shall be provided to the village.
(Ord. 742-80, passed 12-9-1980)