(A) The company shall indemnify, protect and save the town harmless from and against any and all losses, costs or expenses resulting from damage to any property or bodily injury or death to any person, including payments made under any worker's compensation law which arise out of or occur by reason of the exercise by the company of the rights granted in this franchise.
(B) The company shall carry insurance to protect itself and the town from and against all claims, demands, actions, judgements, costs, expenses and liabilities which may arise or result, directly or indirectly, from or by reason of that loss, injury or damage. The insurance policy shall specifically provided that the town shall be a named insured. The amounts of that insurance against liability due to physical damage to property shall be not less than $50,000 as to any one claim and not less than $200,000 aggregate in any single policy year; and against liability due to bodily injury or to death of persons, not less than $100,000, as to any one person and not less than $300,000 as to all such claims arising from any one accident.
(C) The company shall also carry insurance as it deems necessary to protect it and the town from any and all claims under the worker's compensation laws in effect that may be applicable to the company. All insurance required by this section shall be and remain in force and effect for the entire period of this franchise. The policies of insurance, or a certified copy or copies thereof, shall be filed with the Town Clerk-Treasurer.
('85 Code, § 4-7-6) (Ord. 1980-1, passed 7-9-80; Am. Ord., passed 3-9-83)