Within 60 days following the grant of a franchise, a cable operator shall obtain, pay all premiums for and make available to the town at its request copies of the following insurance policies:
(A) A general comprehensive liability insurance policy insuring, indemnifying, defending and saving harmless the indemnified parties from any and all claims by any person whatsoever on account of injury to or death of a person or persons occasioned by the operations of the cable operator under any franchise granted hereunder or alleged to have been so caused or occurred with a minimum coverage of $1,000,000 for personal injury or death of one person, and $2,000,000 for personal injury or death of any two or more persons in any one occurrence;
(B) Property damage insurance for property damage occasioned by the operation of the cable operator under any franchise granted pursuant to this chapter, or alleged to have been so caused or occurred with minimum coverage of $1,000,000 for property damage to the property of any one person and $2,000,000 for property damage to the property of two or more persons in any one occurrence;
(C) Workers compensation insurance as provided by applicable local, state and federal laws;
(D) All insurance policies called for in this chapter shall be in a form satisfactory to the town with a company licensed to do business in the state with a rating by A.M. Best & Co. of not less that “A” and shall require 30 days’ written notice of any cancellations to both the town and the cable operator. The cable operator shall, in the event of any such cancellation notice obtain, pay all premiums for and file with the town, written evidence of the issuance of replacement policies within 30 days following receipt by the town or the cable operator of any notice of cancellation; and
(E) It shall be the obligation of the cable operator to properly notify the town of any pending litigation that would be likely to effect the indemnified parties.
(Prior Code, § 13.20.110) (Ord. 96-13.20, passed - -1996)