Before the granting of a license, applicants shall file with the Service Director, certain certificates of insurance, acceptable to the City, providing indemnity against all claims arising out of the operations of the licensee as contemplated under such license as follows:
(a) Public liability insurance to indemnify the licensee and/or the City, (the City to be named in the policy as an additional assured) for all claims upon the assured for damages on account of bodily injuries, including death, resulting therefrom, accidentally suffered or alleged to have been suffered by any person, except employees of the licensee, arising out of any operations of the licensee under the license, and the public liability insurance shall provide indemnity in the amount of ten thousand dollars ($10,000.00) for each accident resulting in bodily injuries to or death of one person and twenty thousand dollars ($20,000.00) for each accident resulting in bodily injuries to or death of more than one person.
(b) Property damage insurance to indemnify the licensee and/or the City for all claims upon the assured for damages on account of the injury to or destruction of property (other than property owned, leased, occupied, or used by, or in the care, custody or control of the assured or any of his employees) resulting from an accident due to or caused by any operations of the licensee under the license, and the property damage insurance shall provide indemnity in the amount of one thousand dollars ($1,000.00) for each accident.
In lieu of the provisions of the foregoing paragraph, the licensee may, at his option, file with the Service Director, a surety bond in the amount of one thousand dollars ($1,000.00) such bond to be written in favor of the City and issued by a corporate surety company acceptable to the City and providing indemnity for the City against any and all claims for injury to or destruction of property resulting from an accident due to or caused by any operations of the licensee under the license.
(c) Workmen's compensation insurance as provided under the Workmen's Compensation Law of the State, such certificate of insurance to be issued by the Industrial Commission of Ohio.
All insurance shall cover the entire period for which the license is issued and shall provide that in the event of cancellation the insurance shall remain in full force and effect until the expiration of not less than ten days after due notice in writing of the cancellation is served upon both the City and the licensees
In the event of the cancellation of any policy at any time during the term of the license, the license shall become automatically revoked as of the date of the termination of the insurance.
(Ord. 2636-55. Passed 2-2-55.)
(Ord. 2636-55. Passed 2-2-55.)