705.13  INDEMNIFICATION; INSURANCE.
   (a)   The company shall indemnify, protect, and save harmless the Municipality and its agents and employees from any and all loss or damage arising out of, or claims for injury or death to any person, or damage to any property incurred by or asserted the Municipality or its agents or employees, directly or indirectly, by reason of the operations of the company and the grant herein authorized.
   (b)   The company shall carry insurance, to protect the parties hereto from and against all claims, demands, actions, judgments, costs, expenses, and liabilities which may arise or result, directly or indirectly, from or by reason of, such loss, injury, or damage. The amounts of such insurance against liability due to physical damages to property shall not be less than $350,000 and against liability due to bodily injury or to death of persons, not less than $500,000 as to any one person and not less than $500,000 as to any one accident. All insurance required by this chapter shall be and remain in full force and effect for the entire life of this chapter. The policy of insurance or a certificate or certificates thereof shall be approved by the Solicitor and be deposited with and kept on file in the office of the Municipal Clerk, and shall reflect the Municipality as the named insured.
(1980 Code 122.22; Ord. 10-81.)