Subd. 1. All licensees must have at all times a valid certificate of insurance issued by an insurance company licensed to do business in the State of Minnesota evidencing that the applicant’s use of the property is currently covered by a liability insurance policy. The minimum limits of coverage for the insurance shall be:
a. Each claim, at least $200,000;
b. Each incident, at least $500,000.
Subd. 2. The insurance shall be kept in force during the term of the license and the licensee must provide for prior notification to the City of Shorewood should the policy be terminated or canceled. A certificate of insurance must accompany all initial and renewal license applications.
(Am. Ord. 386, passed 6-10-2002)