(A) As a part of the indemnification provided by § 118.051, but without limiting the foregoing, each grantee shall file with the application a certificate of insurance verifying that the grantee has obtained, and at all time; thereafter shall maintain in full force and effect at its sole expense, an acceptable policy or policies of liability insurance, including comprehensive general liability insurance products/ completed operations liability personal injury liability, owners and contractors protective liability, broad form property damage contractual liability, automobile liability (owned, non-owned, and hired automobiles), worker's compensation, and employer liability.
(B) The policy or policies shall name as primary insured the city government, and in their capacity as such their officers, agents, and employees. The grantee and said city government and officers, agents, and employees shall be named as coinsured, and the policy or policies shall contain cross-liability endorsements. Policies of insurance shall be in the minimum single limit amount of $5,000,000 per occurrence; unless the Common Council determines that lesser coverage amount is appropriate. The insurance policy or policies shall contain contractual liability insurance naming the grantee, and shall insure against the types of liabilities covered by the indemnification and hold harmless provisions of § 118.051.
(C) The form and substance of the policy or policies of insurance shall also be subject to approval by the Common Council. The policy or policies of insurance shall be maintained by the grantee in full force and effect during the entire term of the franchise.
(1980 Code, § 118.052) (Ord. 1996-4, passed 4-9-1996)