(a) Each contractor registering with the City shall submit a certificate of insurance showing that the contractor is carrying public liability insurance with a coverage of at least three hundred thousand dollars ($300,000) policy limits for personal injury and at least six hundred thousand dollars ($600,000) for general aggregate, together with a valid commitment from the applicant's insurance carrier, which must be authorized to do business in the State, that the Municipality shall be given ten days' written notice before cancellation, lapsing or voiding of any such policy.
(b) The cancellation, lapsing or voiding of any such insurance policy required by this section shall be cause for immediate revocation of the registration of such contractor to do business within the City.
(Ord. 14-1993. Passed 2-22-93.)