§ 27-6. Insurance.

(a)

Permittee shall provide, pay for and maintain satisfactory to the town the types of insurance described herein. All insurance shall be from responsible companies duly authorized to do business in the state and having a rating in Best's Insurance Guide of A or better or having a rating acceptable to the town. All liability policies shall provide that the town is an additional insured in the endorsement. The required coverages 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 town annually. Thirty days' advance written notice by registered or certified mail must be given to the town of any cancellation, intent not to renew or reduction in the policy coverages. The insurance requirements may be satisfied by evidence of self-insurance or other types of insurance acceptable to the town. In addition to the certificate of insurance, the permittee shall provide a copy of the insurance policy, if requested by the town.

(b)

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

(1)

Worker's compensation and employer's liability. Employer's liability—$500,000.00 limit each accident; $500,000.00 limit per each employee;

(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, independent or contractors.

(3)

Automobile liability. Bodily injury and property damage—$3,000,000.00 combined single limit each accident.

(c)

Umbrella or excess liability. Permittee may satisfy the minimum limits required above for either 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 town 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. Permittee may satisfy the insurance requirements and conditions of this section under a self-insurance plan and/or retention. Permittee agrees to notify the town, and/or indicate on the certificate(s) of insurance, when self-insurance is relied upon or when a self-insured retention meets or exceeds $100,000.00. The town reserves the right, but not the obligation, to request and review a copy of the permittee's most recent annual report or audited financial statement, which the permittee agrees to furnish for the purpose of determining the permittee's financial capacity to self-insure.

(e)

Right to review. The town reserves the right to review, modify, reject or accept any required policies of insurance or self-insurance, including limits, coverages, or endorsements, herein from time to time throughout the life of this section. The town 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 town'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 permittee'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 town may, in its sole discretion, require increased or decreased levels of insurance for any other object placed in the public rights-of-way by way of individual agreements.

(Ord. No. 18-01, § 1, 12-11-2017)