Before any excavation permit, as provided in this chapter, is issued, the applicant shall furnish to the city a certificate of insurance in a company authorized to issue insurance by the state, evidencing that such applicant has comprehensive general liability and damage policy that includes contractual liability coverage with minimum limits of two hundred fifty thousand dollars ($250,000.00) for injuries, including accidental death to any one person; in an amount not less than five hundred thousand dollars ($500,000.00) on account of injuries sustained in any one accident; and property damage insurance in an amount of not less than one hundred thousand dollars ($100,000.00) for each accident. The insurance policy shall include a provision to indemnify, save harmless, and defend the city and its officers and employees against any and all claims, loss, damage, or expense sustained on account of damages to persons or property occurring by reason of any work made by the permittee, his subcontractors or agents, whether or not the work has been completed. (Ord. 402 § 26, 2003)