(a) The grantee shall maintain, throughout the term of the franchise, liability insurance insuring the village and the grantee with regard to all damages mentioned in § 808.11 in the following minimum amounts:
(1) Five hundred thousand dollars for bodily injury or death to any one person;
(2) Five hundred thousand dollars for bodily injury or death resulting from any one accident; and
(3) One million dollars for all other types of liability.
(b) Upon request of the village, the grantee shall furnish to the village satisfactory evidence that an insurance policy has been obtained and is in full force and effect.
(Ord. 9-97, passed 8-11-1997)