A. The grantee shall, concurrently with the filing of an acceptance of award of any franchise granted under this chapter, furnish to the city and file with the city clerk, and at all times during the existence of any franchise granted hereunder, maintain in full force and effect, as its own cost and expense, liability insurance policies provided by a company approved by the city manager, and in a form satisfactory to the city attorney, naming as additional insureds, the city, its officers, bonds, commissions, agents, and employees, as follows:
1. Liability insurance in the amount of two million dollars indemnifying, defending, and holding harmless the city, its officers and employees from and against any and all claims, demands, actions, suits and proceedings by others, against all liability to others, including but not limited to any liability for damages by reason of or arising out of any failure by the grantee to secure consents from the owners, authorized distributors or licensees of programs to be delivered by the grantee's CATV system, and against any loss, cost, expense and damages resulting therefrom, including reasonable attorney's fees, arising out of the exercise or enjoyment of its franchise, irrespective of the amount of the comprehensive liability insurance policy required hereunder.
2. A general comprehensive liability insurance policy, with minimum liability limits of two million dollars aggregate per single accident or occurrence, one million dollars for personal injury or death of one or more persons in any one occurrence, one million dollars for damage to property resulting from any one occurrence, and three hundred thousand dollars for property damage to any one person.
3. Workers' compensation insurance in accordance with state law.
B. In lieu of such the policy specified in subsection A1 of this section, the grantee may provide a notarized certificate of self-insurance in like amounts and conditions, in a form acceptable to the city attorney, attesting to the provisions of this section, or, in the alternative, the grantee may provide a notarized indemnity and hold-harmless certificate, showing a net worth of at least five million dollars in a form acceptable to the city attorney, attesting to the provisions of this section.
C. The policies mentioned in subsection A of this section, shall name the city, its officers, boards, commissions, agents and employees, as additional insured and shall contain a provision that a written notice of cancellation or reduction in coverage of said policy shall be delivered to the city thirty days in advance of the effective date thereof. If such insurance is provided by a policy which also covers grantee or any other entity or person other than those above names, then such policy shall contain the standard cross-liability endorsement.
(Ord. 85-07-950 § 1 (part))