No license shall be granted until the applicant furnished evidence if the following:
(a) Liability Insurance. Coverage will be at least as broad as Insurance Services Office Commercial General Liability coverage (Occurrence Form CG.00.01) including products and completed operations coverage. The contractor shall maintain limits of insurance no less than $1,000,000 per occurrence for bodily injury, personal injury and property damage. If Commercial General Liability Insurance or other form with a general aggregate limit is used, the general aggregate limit shall be twice the required occurrence limit.
(b) Insurance Rating. The insurance company must have an AM BEST rating of A- or better. The contractor shall provide the City with proof of that rating.
(c) Automobile Liability Insurance. Coverage will be at least as broad as Insurance Services Office Form Number CA 00 01 covering Automobile Liability, Code 1 (Any Auto). The contractor shall maintain limits of insurance no less than $1,000,000 per accident for bodily injury and property damage.
(d) Additional Insured. The City is to be named as an Additional Insured, using the following wording only: “On these coverages the following are listed as Additionally Insured: The City of Troy, Ohio, its elected and appointed officials, all employees and volunteers, all boards, commissions and/or authorities and board members, including employees and volunteers thereof. Coverage shall be primary to the Additional Insured and not contributing with other insurance or similar protection available to the Additional Insured whether other coverage be primary, contributing or excess”
(e) Cancellation Notice. The certificate of insurance shall be include an endorsement stating that “Thirty (30) days advance written Notice of Cancellations, Non- Renewal, Reduction and/or Material Change shall be sent to: City of Troy, City Hall, 100 S. Market Street, Troy, Ohio 45373”.
(f) Coverage Expiration: If any of the above coverages expire during the time frame covered by this Section the contractor shall deliver renewal certificates and/or policies to the City of Troy, Ohio at least ten days prior to said expiration date.
(g) The City of Troy reserves the right to request facsimile or certified copies of all insurance policies. (Ord. 75-2007. Passed 11-19-07.)