(A) A person shall obtain and maintain insurance in the amounts reasonably prescribed by the city with an insurance company licensed to do business in this state acceptable to the city. A person shall furnish the city with proof of insurance at the time of the request for construction permits. The city reserves the right to review the insurance requirements and to reasonably adjust insurance coverage and limits when the City Administrator determines that changes in statutory law, court decisions, or the claims history of the industry or the person require adjustment of the coverage. For purposes of this section, the city will accept certificates of self-insurance issued by the state or letters written by the person in those instances where the state does not issue such letters, which provide the same coverage as required herein. However, for the city to accept these letters, the person must demonstrate by written information that it has adequate financial resources to be a self-insured entity as reasonably determined by the city, based on financial information requested by and furnished to the city. The city’s current insurance requirements are described in Exhibit A attached to Ord. 480.
(B) The person shall furnish, at no cost to the city, copies of certificates of insurance evidencing the coverage required by this section to the city. The city may request the deletion, revision, or modification of particular policy terms, conditions, limitations, or exclusions, unless the policy provisions are established by a law or regulation binding the city, the person, or the underwriter. If the city requests a deletion, revision, or modification, a person shall exercise reasonable efforts to pay for and to accomplish the change.
(C) An insurance certificate shall contain the following required provisions:
(1) Name the city and its officers, employees, board members, and elected representatives as additional insureds for all applicable coverage;
(2) Provide for 30 days’ notice to the city for cancellation, non-renewal, or material change; and
(3) Provide that notice of claims shall be provided to the City Administrator by certified mail.
(D) The person shall file and maintain proof of insurance with the City Administrator. An insurance certificate obtained in compliance with this section is subject to city approval. The city may require the certificate to be changed to reflect changing liability limits. A person shall immediately advise the City Attorney of actual or potential litigation that may develop which may affect an existing carrier’s obligation to defend and indemnify.
(E) An insurer has no right of recovery against the city. The required insurance policies shall protect the person and the city. The insurance shall be primary coverage for losses covered by the policies.
(F) The policy clause “Other Insurance” shall not apply to the city if the city is an insured under the policy.
(G) The person shall pay premiums and assessments. A company which issues an insurance policy has no recourse against the city for payment of a premium or assessment. Insurance policies obtained by a person must provide that the issuing company waives all right of recovery by way of subrogation against the city in connection with damage covered by the policy.
(Ord. 480, passed 3-21-2000) Penalty, see § 95.99