§ 71-40. Grantee insurance.

(a)

As a part of the indemnification provided in section 71-39, but without limiting the indemnification, each cable communications franchise grantee shall file with the application and at all times thereafter maintain in full force and effect at the grantee's sole expense an acceptable policy 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, and automobile liability (owned; nonowned and hired automobiles). The policy shall name as primary insured the city and, in their capacity as such, the city's officers, agents and employees. The grantee and city and city officers, agents and employees shall be named as coinsureds, and the policy shall contain $5,000,000.00 per occurrence. The insurance policy shall contain contractual liability insurance naming the grantee and shall insure against the types of liabilities covered by the indemnification and hold harmless provisions of section 71-39.

(b)

The insurer shall be authorized to write the required insurance, approved by the state insurance commissioner and subject to the reasonable approval of the city. The form and substance of the policy of insurance shall also be subject to approval by the city. All insurance shall be from a responsible company duly authorized to do business in the State of Florida and having a financial rating in Best's Insurance Guide of B+, Class VI or better, and a claims paying ability rating of A+ or better.

(c)

A grantee shall maintain and by its acceptance of any franchise granted hereunder, specifically agrees that it will maintain throughout the term of the franchise and any work required to be performed hereunder by grantee after termination or expiration of any franchise, workers' compensation, employer liability insurance valid in the State of Florida in the minimum amounts of the statutory limit for workers' compensation and $500,000.00 for employer's liability for each accident, for each disease accident, and for each disease each employee.

(d)

The policies of insurance shall be maintained by each grantee in full force and effect during the entire term of the franchise. Proof of insurance shall be provided by the grantee to the city upon commencement of a franchise, upon any change in the terms of an insurance policy, and upon the reasonable request of the city. 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 nonpayment of premium or otherwise and whether at the request of the grantee or for other reasons, except after 30 calendar days' advance written notice mailed by the insurer to the city clerk.

(Ord. No. 02-03, Art. II(10), 2-28-02)