§ 6.5-176. Liability insurance.

(a)

A service provider or system owner or operator shall secure and maintain, for as long as it operates the system or provides service within the city, public liability insurance, property damage insurance, and umbrella insurance coverage in at least the following amounts:

(1) Public liability: ..... $3,000,000.00 per person/per occurrence;

(2) Property damage: ..... 3,000,000.00 for any one (1) claim;

(3) Umbrella liability ..... 5,000,000.00

(b)

A service provider's or systems owner's or operator's public and personal liability and property damage insurance policy shall expressly include the city, the city council, the mayor and employees of the city as additional named insureds.

(c)

The public and personal liability and property damage insurance policy shall be issued by an agent or representative of an insurance company licensed to do business in the state, and which has one (1) of the three (3) highest or best ratings from the Alfred M. Best Company, or an equally reputable rating service.

(d)

The liability and property damage insurance policy shall contain an endorsement obligating the insurance company to furnish the city council with at least thirty (30) days' written notice in advance of the cancellation of the insurance.

(e)

Renewal or replacement policies or certificates shall be delivered to the city council at least thirty (30) days prior to the expiration of the insurance which such policies are to renew or replace.

(f)

Before a service provider provides service to subscribers or users, and before a system owner or operator permits the system to be used to provide service, the service provider or system owner or operator shall deliver to the city copies of the policies or certificates of insurance representing the required insurance, and each policy or certificate delivered shall be accompanied by evidence of payment of the full premium thereof for the period covered by the policy.

(g)

If the state permits a service provider or system owner or operator to be self-insured, then the city council may, at its sole discretion, permit the service provider or system owner or operator to be self-insured, so as long as the minimum amounts of insurance coverage outlined in this section are met and maintained for the entire period that the service provider or system owner or operator is self-insured, and the service provider or system owner or operator can demonstrate to the satisfaction of the city council that it has the financial ability to pay in a timely manner up to the maximum amount per category as set forth in subsection (a) of this section.

(Ord. No. A-177, § 26, 3-13-2000)