Subd. 1. Whenever an insurance certificate is required by this chapter, the applicant shall file with the City Administrator a certificate of insurance showing:
A. The limits are at least as high as required;
B. Coverage is effective for at least the license term approved; and
C. The insurance will not be cancelled or terminated without 30-days' written notice served upon the City Administrator.
Subd. 2. Cancellation or termination of the coverage shall be grounds for license revocation.