§ 2-1-4-5.  INSURANCE REQUIREMENTS.
   (A)   The insurance requirements of this chapter are met if the listed or licensed contractor secures and maintains insurance covering all construction activity accomplished by the contractor or under any permit obtained by the contractor, the insurance to include:
      (1)   A public liability and property damage insurance policy insuring the contractor and naming the City of Lawrence as an additional insured, providing for the payment of any liability imposed by law on the contractor or the City of Lawrence arising out of operations performed by or on behalf of the listed or licensed contractor in minimum amounts of:
         (a)   $500,000 for any occurrence relative to which there is injury or death to one or more persons if the contractor has its principal office and place of business in the State of Indiana, or in the amount of $1,000,000 if the contractor has its principal office and place of business outside the State of Indiana; and
         (b)   $100,000 for any occurrence relative to which there is damage to property if the contractor has its principal office and place of business in the State of Indiana, or in the amount of $500,000 if the contractor has its principal office and place of business outside the State of Indiana.
      (2)   Worker’s compensation insurance covering the personnel covered by the listed or licensed contractor for death or injury arising out of operations performed by or on behalf of the contractor, provided that this provision shall not apply if the contractor has no employees and gives appropriate notice to the Building Commissioner.
   (B)   The insurance policies described in division (A) above shall require the insurance carrier to give notice both to the listed or licensed contractor and to the Building Commissioner at least 15 days before the insurance is either canceled or not renewed, and the certificate shall state this obligation.
(Am. Ord. 3, 2011, passed 6-6-2011)