(a) The operator shall carry good and sufficient public liability and property damage insurance to fulfill the terms of Section 820.23, which insurance shall be in the amounts of not less than five hundred thousand dollars ($500,000) for property damage in any one occurrence, not less than one million dollars ($1,000,000) aggregate in any single policy year and not less than five hundred thousand dollars ($500,000) bodily injury or death of any one person, with a minimum of one million dollars ($1,000,000) as to any one occurrence. Such policy shall be subject to the approval of the Director of Law as to its form and extent of coverage, as distinguished from dollar amount of coverage. Such policy shall, in addition to its other provisions, specifically insure against claims arising as the result of underground excavation.
(b) The City shall be named as an additional insured in any such policy or policies.
(c) The policy shall provide by endorsement that it may only be cancelled or amended by the insurance company after sixty days notice, in writing, to the Mayor.
(d) Such policy must be in force before the operator commences any construction or installations.
(e) Either the original policy or certified copies must be on file with the Mayor.
(f) The policy shall provide that the naming of the City as an additional insured shall not exempt the insurer from liability to the City for damage to property owned by it or in which it has an interest.
(Ord. 123-76. Passed 6-17-76.)