(A) A grantee shall maintain insurance in such amounts and kinds of coverages as may be specified by the grantor in the franchise agreement. Such coverages may be reasonably adjusted by the grantor with a 90-day notification; provided that, the grantor demonstrates the need for increases in coverage. The grantee shall maintain such insurance with insurance underwriters authorized to do business in the state. All policies shall name the grantor, its employees, servants, agents and officers as additional insured parties. Each policy shall provide that it may not be canceled, nor the amount of coverage altered, until 30 days after receipt by the City Clerk of a registered mail notice of such intent to cancel or alter coverage.
(B) The grantee shall provide a certificate of insurance designating the grantor as an “additional insured”. The grantee shall maintain and provide to the grantor proof of public liability insurance for not less than amounts specified in the franchise agreement.
(2011 Code, Ch. 43, Art. 5, § 7.2)