As a condition precedent to the issuance of a permit, the permittee shall obtain and provide to the city a comprehensive general liability insurance policy from an insurance company licensed to do business in the state of California and having a financial rating in Best's Insurance Guide of at least "B," which provides insurance coverage for all liabilities including death, personal injury or property damage arising out of or in any way relating to an activity authorized by a permit issued pursuant to this chapter in the amount of at least $100,000.00, combined single limits. Such insurance shall be in a form satisfactory to the city's risk manager, shall include an endorsement naming the city and the city's officers, employees and agents as additional insureds under the coverage afforded, shall be primary with respect to any other insurance available to the city, shall contain a severability of interest (cross-liability) clause and shall require the insureds to provide the city at least thirty days prior notice of cancellation. Proof of such insurance, also in a form satisfactory to the city's risk manager, shall be filed with the Chief of Police prior to the issuance of the permit. Ord. 679, 1998