(A) The company shall maintain and by its acceptance of the franchise specifically agrees that it will maintain throughout the term of the franchise, liability insurance insuring the county, cities, Board, municipal government league of Kenton County, Inc., and the company in the minimum amount of:
(1) $300,000 for property damage to any one person;
(2) $500,000 for property damage in any one accident;
(3) $500,000 for personal bodily injury to any one person; and
(4) $1,000,000 for personal bodily injury in any one accident.
Said figures may be increased by the Board to compensate for inflation.
(B) The insurance policy obtained by the company in compliance with this section must be approved by the County Attorney and such insurance policy, along with written evidence of payment of required premiums, shall be filed and maintained with the CATV Board during the term of the franchise, and may be changed from time to time to reflect changing liability limits. The company shall immediately advise the Board of any litigation that may develop that would affect this insurance.
(C) Neither the provisions of this section nor any damages recovered by the county thereunder, shall be construed to or limit the liability of the company under any franchise issued hereunder or for damages.
(D) All insurance policies maintained pursuant to this franchise shall contain the following endorsement:
“It is hereby understood and agreed that this insurance policy may not be cancelled by the surety nor the intention not to renew be stated by the surety until 30 days after receipt by the Board, by registered mail, of a written notice of such intention to cancel or not to renew.”
(Ord. 450.1, passed 12-4-80)