All applicants for licenses under this article shall file with said application a certificate of insurance, designating the Town of Hammonton as an additional insured, insuring said game and the owner or operator thereof for all personal injuries and property damage claims arising from the operation of said game or the maintenance of same, which coverage shall be with a licensed insurance carrier authorized to do business in the State of New Jersey and shall be in the amount of at least $1,000,000 per individual or accident.