Every person moving a structure in the City shall file with the City Clerk a liability insurance policy issued by a solvent corporation holding a certificate of authority to do insurance business in the State, which policy shall conform in all respects to the requirements of this section. In lieu of filing the insurance policy herein referred to, a certificate of insurance issued by an insurance corporation may be filed. The certificate must show that a policy meeting the requirements of this section has been issued and shall set forth the expiration date of said policy. The liability policy required under this section shall insure the person moving the structure against loss from liability imposed by law for injury to or death of any person or damage to any property arising out of the moving of such structure to the limit of one million dollars ($1,000,000) combined single limit.