Every licensee shall be required to obtain and maintain dram shop insurance coverage and every person who owns, rents, leases as lessor or permits the occupation of any building or premises with knowledge that alcoholic liquors are to be sold there, or, who leases the premises for other purposes but knowingly permits the sale of any alcoholic liquors, shall be required to carry host liability insurance coverage for such facility. Each shall carry coverage in an amount at least equal to the maximum insurance limits of exposure set forth in the Act, as amended. No license/permit shall be granted hereunder to any applicant until the applicant furnishes evidence satisfactory to the Local Liquor Control Commissioner that he or she is covered by the required insurance policy issued by a responsible insurance company authorized and licensed to do business in the State of Illinois insuring the applicant and the owner of the premises. The insurance policy or certificate of insurance providing evidence of insurance shall indicate that the term of the insurance is of sufficient length to encompass the period of the license/permit sought. Such insurance policy shall provide that no cancellation or modification of the policy shall occur without at least 30 calendar days prior written notice given to the Local Liquor Control Commissioner. In the event of cancellation of such insurance the Local Liquor Control Commissioner shall be notified immediately of the cancellation.
(Ord. 2023-05, passed 8-8-2023)