The franchisee shall be required to maintain insurance from companies approved by the Authority, such approval not to be unreasonably withheld, to protect the City, County, Authority and the franchisee and their officers, agents and employees from and against any and all claims, injury or damage to persons or property, both real and personal, caused by the construction, erection, operation or maintenance of any aspect of the system. The amount of such insurance shall be no less than the following:
General Liability Insurance
Bodily injury per person $3,000,000.00
Bodily injury per occurrence 5,000,000.00
Property damage per occurrence 1,000,000.00
Property damage aggregate 1,000,000.00
Automobile Insurance
Bodily injury per person $1,000,000.00
Bodily injury per occurrence 3,000,000.00
Property damage per occurrence 1,000,000.00
Workers' compensation insurance shall also be provided as required by the laws of the Commonwealth of Kentucky. All of the above insurance shall name the Authority, City and County as additional insureds and shall provide a ten (10) day notice to the Authority in the event of material alteration or cancellation of any coverage afforded in said policies prior to the date said material alteration or cancellation shall become effective. Copies of all policies required hereunder shall be furnished to and filed with the City Clerk, the County Clerk and the Authority prior to the commencement of operations or the expiration of prior policies, as the case may be.