(A) Prior to the issuance of a license, the applicant shall file with the Clerk-Treasurer and, continue in force, during the term of the license, a certificate of insurance issued by an insurance carrier licensed to do business in the state, insuring the applicant and its vehicles for liability insurance with minimum coverage for a combined single limit of $1,000,000 per occurrence.
(B) The certificate of insurance shall name the town as an additional named insured and shall further provide that the town will receive notice of any cancellation of said policy.
Penalty, see § 111.99