§ 4.40.150. Insurance

As a part of the indemnification provided by section 4.40.140 above, but without limiting the foregoing, the operator at the time of accepting the franchise and at all time thereafter shall maintain in full force and effect at its sole expense, an acceptable policy or policies of liability insurance, including comprehensive general liability insurance, products/completed operations liability, personal injury liability, owners' and contractors' protective liability, broad form property damage, contractual liability, automobile liability (owned; non-owned and hired automobiles), worker's compensation and employer liability. The policy or policies shall name the operator, the city and city's officers, employees and agents as co-insureds, and the policy or policies shall contain cross-liability endorsements. The policy or policies of insurance shall be in the minimum single limit amount of $1,000,000.00 per occurrence. The insurance policy or policies shall contain contractual liability insurance naming the franchise, and shall insure against the types of liabilities naming the franchise, and shall insure against the types of liabilities covered by the indemnification and hold harmless provisions of section 4.40.140.

The insurer and the form and substance of the policy or policies of insurance shall also be subject to approval by the city.

The policy or policies of insurance shall be maintained by the operator in full force and effect during the entire term of the franchise. Each policy of insurance shall contain a statement on its face that the insurer will not cancel the policy or fail to renew the policy, whether for non-payment or premium, or otherwise, and whether at the request of the operator or for other reasons, except after 30 calendar days advance written notice mailed by the insurer to the city clerk.

Each insurance policy shall provide that the insurance company waives all right of recovery by way of subrogation against the city and its officers, agents and employees in connection with any damage covered by any policy. The city and its officers, agents and employees shall not be liable to the operator for any damage caused by any of the risks insured against under an insurance policy obtained by the operator.

(Ord. No. 286)