No permit required by this subchapter shall be issued unless the applicant therefor shall first file with the City Clerk a certificate of insurance issued by an insurance company licensed to do business in the state, showing that the applicant is indemnified against liability for injuries occasioned to any one person by one accident, in the amount of $1,000,000; for injuries occasioned to any number of persons more than one in one accident, in the amount of $3,000,000; and for damage to the property of another in the amount of $100,000.
(1994 Code, § 150.56)