§ 64-121. Insurance.

(a)

As a condition for the issuance of each excavation permit, the applicant shall procure and maintain in effect throughout the duration of the tree year warrant period for the excavation insurance coverage not less than the types and amounts specified in this section.

(1)

Commercial general liability insurance with limits of $1,000,000.00 per occurrence.

(2)

The policy shall be written or endorsed to include the following provisions:

a.

Severability of interests coverage apply to additional insureds.

b.

Contractual liability.

c.

No contractual liability limitation endorsement.

d.

Additional insured endorsement, ISO form CG20 10, current edition, or its equivalent.

(b)

Self-insurance is unacceptable to city unless the excess insurance policy or an endorsement thereto contains drop down provision or cut through endorsement for the retention in the event of insolvency of the applicant, or in the case of utility franchised by the city, if an excess insurance policy covering claims against the applicant arising out of excavations on property, right-of-way or easements owned by the city is maintained by the applicant pursuant to a franchise agreement.

(c)

The insurance policy may not be canceled until after thirty (30) days written notice of cancellation to city, ten (10) days in the event of nonpayment of premium. The insurance shall provide that city and its agencies, officials, officers, and employees, while acting within the scope of their authority, will be named as additional insureds.

(d)

The applicant shall provide to the city a certificate of insurance showing all required endorsements and additional insureds. The certificate shall be in a form acceptable to the director.

(e)

The insurance coverage must be written by companies that have an A.M. Best's rating of "B+V" or better, and are licensed or approved by the State of Missouri to do business in Missouri.

(f)

Regardless of any approval by the city, or issuance of an excavation permit, it is the responsibility of the permittee to maintain the required insurance coverage in force at all times; its failure to do so will not relieve it of any obligation or responsibility. In the event of permittee's failure to maintain the required insurance in effect, the city may order permittee to immediately stop work until the permittee complies with the insurance requirements set forth in this article.

(Ord. No. 001685, § 1, 2-20-01)