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(a) As a condition of the Village's consent to occupy the Right-of-Way, a Facilities Operator must secure and maintain the following liability insurance policies insuring both the Facilities Operator and the Village, and its elected and appointed officers, officials, agents and employees as additional insureds:
(1) Comprehensive general liability insurance with limits not less than:
(i) Five Million Dollars ($5,000,000.00) for bodily injury or death to each person;
(ii) Five Million Dollars ($5,000,000.00) for property damage resulting from any one (1) accident; and
(iii) Five Million Dollars ($5,000,000.00) for all other types of liability.
(2) Automobile liability for owned, non-owned and hired vehicles with a limit of Three Million Dollars ($3,000,000.00) for each person and Three Million Dollars ($3,000,000.00) for each accident.
(3) Worker's compensation within statutory limits and employer's liability insurance with limits of not less than One Million Dollars ($1,000,000.00).
(4) Comprehensive form premises-operations, explosions and collapse hazard, underground hazard and products completed hazard with limits of not less than Three Million Dollars ($3,000,000.00).
(b) Each such insurance policy shall contain the following endorsement:
"It is hereby understood and agreed that this policy may not be canceled nor the intention not to renew be stated until ninety (90) days after receipt by the Village, by registered mail, of a written notice addressed to the Chief Administrative Officer of such intent to cancel or not to renew."
(c) Within sixty (60) days after receipt by the Village of said notice, and in no event later than thirty (30) days prior to said cancellation, the Facilities Operator shall obtain and furnish to the Village replacement insurance policies meeting the requirements of this subsection.
(d) Upon written application to, and written approval by the Chief Administrative Officer, a Facilities Operator may be self-insured to provide all of the same coverages as listed in this section; except that all coverages for Worker's Compensation shall be in compliance with State law. No approval for self-insurance shall be given until the Village's Chief Administrative Officer has made a complete review of the Facilities Operator's financial ability to provide such self-insurance and notifies the Chief Administrative Officer that such review has been completed. As part of the review process, the Chief Administrative Officer may require, and the self-insurance applicant shall provide, any and all financial documents necessary to make a valid determination of the applicant's ability to meet the needs of this Chapter.
(Ord. 2019-10. Passed 1-14-19.)