The franchisee shall be required to maintain insurance in the forms and in the companies as shall be approved by the Board of Alderpersons, with the town named as the coinsured, the approval not to be unreasonably withheld, to protect the town and franchisee from and against any and all claims, injuries or damages to persons or property, both real and personal, caused by the construction, erection, operation or maintenance of any aspect of the system. The amount of the insurance shall not be less than the following:
(A) General liability insurance.
Bodily injury, per person | $500,000 |
Bodily injury, per occurrence | $1,000,000 |
Property damage, per occurrence | $500,000 |
(B) Automobile insurance.
Bodily injury, per person | $100,000 |
Bodily injury, per occurrence | $300,000 |
Property damage, per occurrence | $300,000 |
(C) Coverage may be changed from time to time during the term of the franchise.
(D) Worker’s compensation insurance shall also be provided as required by state law.
(E) All the insurance coverage shall provide a 30-day notice to the Town Administrator/Town Clerk in the event of material alteration or cancellation of any coverage afforded in the policies prior to the date the material alteration or cancellation shall become effective.
(F) A certificate of coverage for all policies required by this section shall be furnished to and filed with the Town Administrator/Town Clerk prior to the commencement of operations or expiration of prior policies, as the case may be.
(Prior Code, § 4.1-44) (Ord. passed 9-19-1979)