Each franchisee shall cause each insurance policy obtained by it to provide that the insurance company waives all right of recovery by way of subrogation against the county, cities, cable television commission and in their capacities as such the officers, agents and employees thereof in connection with any damage covered by any policy. The county, cities, commission and in their capacities as such the officers, agents and employees thereof shall not be liable to the franchisee for any damage caused by any of the risks insured against under an insurance policy obtained by the franchisee. (Prior code § 20.08.708)