All contractors licensed under this subchapter shall be required to obtain and to file with the City Controller a certificate, issued by a duly authorized officer of a responsible insurance company authorized to do business in this state, showing that the licensee has, in full force and effect:
(A) Worker’s compensation covering all employees on any work done within the city;
(B) Public liability insurance in an amount as set by the city from time to time for one accident;
(C) Property damage insurance in an amount as set by the city from time to time; and
(D) Worker’s compensation, public liability, and property damage insurance shall be kept in full force and effect during the entire licensed period and certificates to that effect annually submitted to the City Controller.
(Prior Code, § 115.003) Penalty, see § 10.999