(1) Certificate of insurance required. In addition to filing a cash deposit or surety bond as specified in § 16-505, each person applying for an excavation permit shall file with the city clerk a certificate of insurance. The certificate of insurance shall indicate that the applicant is insured against claims for damages for personal injury as well as against claims for property damage which may arise from or out of the performance of the work, whether such performance is by the permittee, any subcontractor, or anyone directly or indirectly employed by the permittee.
(2) Coverage. Such insurance shall cover collapse, explosive hazards, and underground work by equipment on the street, and shall include protection against liability arising from completed operations.
(3) Amount of insurance. The amount of the insurance shall be prescribed by the city clerk in accordance with the nature of the risk involved; provided, however, that the liability insurance for bodily injury shall not be less than $150,000 for each person and $350,000 for each accident, and for property damages not less than $50,000 for any one (1) accident, and a $75,000 aggregate.
(Ord. #002-01-01, Feb. 2002)