All tenants contracting for any type of operating privileges shall provide suitable insurance coverage pertaining to their specific activities and provide the following:
(A) To name the city on policies as an additional insured.
(B) To require the insurance company to provide airport ownership within 15 days' minimum notice prior to cancellation or discontinuance of any insurance coverage.
(C) Specific types of coverage applicable to operational activities with minimum amounts, to include:
(1) Worker's Compensation, full coverage.
(2) Products liability, $100,000.
(3) Hangar keeper's liability, $50,000 per plane; $300,000 total.
(4) Passenger seat liability, $75,000; $300,000 total.
('74 Code, § 2.5-34) (Ord. 940, passed 4-5-77) Penalty, see § 90.999