(a) Each provider shall either provide an adequate statement of self insurance, subject to the Director of Law’s reasonable approval, or maintain, throughout the term of this agreement, commercial, general and umbrella liability insurance with a company authorized to do business in the state with a rating by Best of not less than “A,” insuring the provider and the city (wherein the city is named as additional insured) with regard to all damages mentioned in § 808.12 hereof, in the minimum amounts of:
(1) One million dollars for bodily injury or death to any one person;
(2) Three million dollars for bodily injury or death resulting from any one accident;
(3) One million dollars for all other types of liability; and
(4) Ten million dollars excess liability or umbrella coverage.
(b) If a provider’s system is sold or transferred, or if the provider’s franchise agreement or competitive video service agreement is terminated or revoked, an insurance tail shall be purchased and filed with the city for the then applicable amounts. The tail(s) shall provide coverage through the end of the period established by the applicable statutes of limitation and repose for all items insured.
(c) Prior to providing any service under this chapter, each provider shall furnish to the city a certificate evidencing that a satisfactory insurance policy has been obtained. Such insurance policy shall require that the city be notified 30 days prior to any expiration or cancellation.
(d) All insurance policies issued and maintained pursuant to this section shall contain the following endorsement:
“It is hereby understood and agreed that this insurance policy may not be canceled by the surety, nor may the intention not to renew be stated by the surety until 30 days after receipt by the City of Solon, Ohio, by registered mail, of a written notice of such intention to cancel or not to renew.”
(e) Each provider shall notify the city of any pending or threatened litigation that would be likely to affect its insurance coverage.
(Ord. 2007-106, passed 5-21-2007)