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Prior to the commencement of any operation, excavation or construction pursuant to a license or franchise, the license or franchisee shall file with the city manager and maintain in full force and effect throughout the term of the license or franchise agreement insurance policies issued by an insurer duly authorized to conduct business in this state, insuring with respect to the installation, construction, operation and maintenance of the system as follows:
(1) Comprehensive general and automobile liability coverage including, but not limited to: (1) blanket contractual liability; (2) completed operations liability; (3) broad form property damage endorsement, including but not limited to coverage for explosion, collapse and underground hazard; and (4) automobile non-ownership liability. This insurance shall be written in the following minimum amounts:
a. For bodily injury, including death: $500,000.00 combined single limit;
b. Property damage: $500,000.00 combined single limit;
c. Comprehensive automobile liability; bodily injury: $500,000.00 combined single limit;
d. Excess umbrella liability in the minimum amount of $10,000,000.00.
(2) Workers' compensation coverage as required by the laws, rules and regulations of this state.
(3) All insurance policies required herein shall include the city as an additional named insured.
(4) With respect to the insurance required herein, the license or franchisee shall be solely responsible for all premiums due and payable.
(5) The insurance policies required by this section shall contain the following endorsement:
It is hereby understood and agreed that this policy of insurance may not be canceled by the insurer nor the intention not to renew be stated by the insurer until sixty (60) days after receipt by the city, by registered mail, of written notice of such intent to cancel or not to renew.
(6) All insurance policies required to be procured herein shall be in a form approved by the city risk manager, and no licensee or franchisee may initiate or begin construction until such approval has been granted.
(7) Licensee or franchisee shall require of all its contractors and subcontractors the same insurance coverage including worker's compensation insurance in the amounts required by state law.
(Ord. No. 8522, § 1, 6-12-95)