A. Required: Before undertaking any construction work, and before a permit may be issued, the applicant shall secure from a reputable, established insurance company and maintain a policy of insurance against damage to property and injury or death to persons.
B. Policy Limits: The property damage coverage shall be in the amount of at least fifty thousand dollars ($50,000.00) and the public liability damage coverage for injury or death shall be in the amount of at least fifty thousand dollars ($50,000.00) per person and three hundred thousand dollars ($300,000.00) per occurrence.
C. Notice Of Termination: The policy shall provide that the city clerk shall be notified prior to any termination or modification of the insurance.
D. Proof Of Insurance: Proof of the insurance shall be filed with the city clerk. (1982 Code § 3.165)