§ 9-3-245. Insurance required.

A franchisee shall maintain and, by its acceptance of a franchise, shall have agreed that it will maintain, throughout the term of the franchise, at least the following liability insurance coverages insuring both the city and the franchisee: worker's compensation and employer liability insurance to meet all requirements of Virginia law; comprehensive general liability insurance with respect to the construction, operation and maintenance of the cable system and the conduct of the franchisee's business in the city; and commercial automobile liability insurance covering all motor vehicles owed or leased by franchisee and any other vehicles while driven by franchisee's employees, in the minimum amounts of:

(a)

$2,500,000 for property damage resulting from any one occurrence;

(b)

$5,000,000 for personal bodily injury or death resulting from any one occurrence; and

(c)

$1,000,000 for all other types of liability.

The city may review these policy limits no more than once a year and may require reasonable adjustments to them. In the event that the franchisee objects to an increase in a policy limit and the parties are unable to agree on a mutually acceptable amount, the dispute shall be resolved by arbitration in accordance with the procedures of the American Arbitration Association. (Ord. No. 4738, 10/15/11, Sec. 1)