Any person making application for a permit to conduct any operations regulated by this Subchapter shall furnish to the City, and maintain, a certificate of public liability and property damage insurance as issued by an insurance company approved by the City Engineer, with minimum limits of One Hundred Thousand Dollars/Three Hundred Thousand Dollars ($100,000.00/$300,000.00) personal injury liability and Fifty Thousand Dollars ($50,000.00) property damage, to cover any liability created by the permittee in his operations permitted hereunder and to insure the City from any and all liability of any nature whatsoever connected directly or indirectly with said work. Public utilities operating under the supervision of the Public Utilities Commission, public utilities holding a franchise from the City, City Departments and other governmental agencies, may be relieved of the obligation of submitting such a bond by the City Engineer. No provision of this Section shall be construed to impose upon the permittee or any of said permittee's agents, servants or independent contractors, a greater or different duty of care to third persons than would otherwise be involved by law in the absence of such provision.
('65 Code, § 30-30.1)