§ 38-28. Insurance.

(a)

A registrant shall provide, pay for and maintain satisfactory to the city the types of insurance described herein. All insurance shall be from responsible companies duly authorized to do business in the state and having a Best's Insurance Guide rating of A or better or having a rating acceptable to the city. All liability policies shall provide that the city is an additional insured in the endorsement. The required coverage must be evidenced by properly executed certificates of insurance forms. The certificates must be signed by the authorized representative of the insurance company and shall be filed and maintained with the city annually. Thirty days' advance written notice by registered or certified mail must be given to the city of any cancellation, intent not to renew or reduction in the policy coverage. The insurance requirements may be satisfied by evidence of self-insurance or other types of insurance acceptable to the city.

(b)

The limits of coverage of insurance required shall be not less than the following:

(1)

Worker's compensation and employer's liability insurance. Employer's liability for the following:

a.

Each accident: $500,000.00 limit.

b.

Per each employee: $500,000.00 limit.

(2)

Comprehensive general liability. Bodily injury and property damage: $3,000,000.00 combined single limit each occurrence. Said coverage shall not exclude contractual liability, products/completed operations or independent contractors.

(3)

Business automobile liability. Bodily injury and property damage: $3,000,000.00 combined single limit each accident.

(c)

Umbrella or excess liability. A registrant may satisfy the minimum limits required in subsection (b) of this section for commercial general liability, business auto liability and employer's liability coverage under umbrella or excess liability. The umbrella or excess liability shall have an aggregate limit not less than the highest "each occurrence" limit for commercial general liability, business auto liability or employer's liability. The city shall be specifically endorsed as an additional insured on the umbrella or excess liability, unless the certificate of insurance states the umbrella or excess liability provides coverage on a follow-form basis.

(d)

Self-insurance. A registrant may satisfy the insurance requirements and conditions of this section under a self-insurance plan and/or retention. The registrant agrees to notify the city, and/or indicate on the certificates of insurance, when self-insurance is relied upon or when a self-insured retention exceeds $100,000.00. The city reserves the right, but not the obligation, to request and review a copy of the registrant's most recent annual report or audited financial statement, which the registrant agrees to furnish for the purpose of determining the registrant's financial capacity to self-insure.

(e)

Right to review. The city reserves the right to review, modify, reject or accept any required policies of insurance or self-insurance, including limits, coverage, or endorsements, herein from time to time throughout the life of this section. The city reserves the right, but not the obligation, to review and reject any insurer or self-insurer providing coverage because of its poor financial condition or failure to operate legally.

(f)

This section shall not be construed to affect in any way the city's rights, privileges and immunities as set forth in F.S. § 768.28. Insurance under this section shall run continuously with the presence of the registrant's facilities in the public rights-of-way and any termination or lapse of such insurance shall be a violation of this section and subject to the remedies as set forth herein. Notwithstanding the foregoing, the city may, in its sole discretion, require increased or decreased levels of insurance for any other object placed in the city's rights-of-way by way of individual license agreements.

(Ord. No. 2008-08, § 2(101-10), 6-11-2008)