(A) The operator shall carry good and sufficient public liability and property damage insurance to fulfill the terms of § 110.040(A), which insurance shall be in the amounts of not less than $1,000,000 for property damage in any one occurrence, nor less than $2,000,000 aggregate in any single policy year; and not less than $1,000,000 bodily injury or death of any one person, with a minimum of $2,000,000 as to any one occurrence. Such policy shall be issued by a firm licensed to conduct business in the State of Ohio (as distinguished from dollar amount of coverage). Such policy shall specifically insure against claims arising as the result of underground excavation.
(B) The Village of Marble Cliff 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 30 days notice, in writing, to the Mayor.
(D) The policy (or policies) must be in force before the operator commences any construction or installations.
(E) The operator shall provide Certificates of Insurance to the Village.
(F) The policy shall provide that the naming of the Village as an additional insured shall not exempt the insurer from liability to the Village for damage to property owned by it or in which it has an interest.
(Ord. 0-1621-97, § 709.02, passed 7-21-97)