Insurance required under the provisions of this code shall be governed by the following requirements:
A. Each certificate of insurance shall require approval by the city attorney and risk manager;
B. Insurance furnished must contain a condition that it cannot be modified or cancelled without at least thirty (30) days' written notice to the city;
C. Any insurer shall be authorized to do business in California, and have a minimum A.M. Best and Company rating of B+:VII;
D. The rules and regulations issued under section 3-4-5 of this chapter. (1962 Code §§ 2-6.405, 5-8, 7-4, 9-3.1200 et seq.)
When insurance is required under any provisions of this code, except under section 2-5-303 of this code, the insured shall be obligated to indemnify the city for any damage or injury caused to the city as a result of the conduct or activity requiring insurance. The form of indemnification shall conform to the rules and regulations issued pursuant to section 3-4-5 of this chapter. (1962 Code §§ 2-6.405, 5-8, 7-4, 9-3.1200 et seq.)
Bonds required under the provisions of this code shall comply, with the following requirements:
A. Each bond shall require approval by the city attorney and risk manager.
B. Bonds shall comply with the rules and regulations issued under section 3-4-5 of this chapter. (1962 Code §§ 2-6.405, 5-8, 7-4, 9-3.1200 et seq.)
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