Each registrant shall furnish the city with a certificate of insurance which shall state thereon the following:
(a) That the insurance covers work performed by the insured in the city;
(b) The limits of liability for comprehensive general liability for bodily injury shall be a minimum of $250,000 for each person and $500,000 for each accident;
(c) The limits of general liability insurance for comprehensive general liability for property damage shall be a minimum of $100,000 for each accident and $100,000 in the aggregate, $1,000,000 each occurrence and $2,000,000 general aggregate;
(d) Such insurance shall provide that in the event of its cancellation, at least ten days’ written notice of cancellation will be given to the city; and
(e) The insurance policy shall include an agreement to hold the city harmless from any claims, damages or injuries resulting from the work performed by the insured and shall list the city as an additional insured.