Unless otherwise provided in a franchise agreement, each grantee shall, as a condition of the grant, secure and maintain the following liability insurance policies insuring both the grantee and the city, and its elected and appointed officers, officials, agents, and employees as coinsured:
(A) Comprehensive general liability insurance with limits not less than $3,000,000 for bodily injury or death to each person, $3,000,000 for property damage resulting from any one accident, and $3,000,000 for all other types of liability;
(B) Automobile liability for owned, non-owned, and hired vehicles with a limit of $1,000,000 for each person and $3,000,000 for each accident;
(C) Worker’s compensation within statutory limits and employer’s liability insurance with limits of not less than $1,000,000;
(D) Comprehensive form premises-operations, explosions, and collapse hazard, underground hazard and, products completed hazard with limits of not less than $3,000,000;
(E) (1) The liability insurance policies required by this section shall be maintained by the grantee throughout the term of the telecommunications franchise, and such other period of time during which the grantee is operating without a franchise hereunder, or is engaged in the removal of its telecommunications facilities.
(2) Each such insura nce policy shall contain the following endorsement:
It is hereby understood and agreed that this policy may not be canceled nor the intention not to renew be stated until ninety (90) days after receipt by the City of Monroe, by registered mail, of a written notice addressed to the City Recorder of such intent to cancel or not renew.
(F) Within 60 days after receipt by the city of said notice, and, in no event, later than 30 days prior to said cancellation, the grantee shall obtain and furnish to the city evidence that grantee meets requirements of this section; and
(G) As an alternative to the insurance requirements contained herein, a grantee may provide evidence of self-insurance subject to review and acceptance by the city.
(Ord. 2021-01, passed 3-10-2021)