(A) All general contractors and subcontractors performing work within the village must maintain certain insurance coverage to protect the village as follows:
(1) Worker's compensation - both contractors and subcontractors per statutory limits.
(2) Comprehensive general liability.
(a) General Contractors - $1,000,000 per occurrence.
(b) Subcontractors - $300,000 per occurrence.
(c) Property Damage - both contractors and subcontractors - $50,000.
(B) Each contractor and subcontractor must provide certificates of insurance evidencing such coverage, showing the village as a named additional insured and certifying that any such policy or policies of insurance may not be terminated, modified, non-renewed or changed in any way without at least 30 days advanced written notice to the village.
(C) The above insurance requirements are the minimum, however, the village reserves the right to demand additional or different insurance coverage when the circumstances warrant such coverage for specific contracts because of the size and nature of the contract, nature of the risks involved, duration, etc.
(D) A certificate of insurance indicating that the building contractor is insured by a company authorized to do business in the state, in the minimum amounts as stated shall be filed with the Village Clerk at the time an application for license is made.
(Ord. 00-21, passed 10-16-00; Am. Ord. 05-05, passed 4-18-05)