§ 11.12. Insurance.

(1)

The valet parking operator shall purchase, maintain, and keep in full force and effect insurance written for not less than the limits of liability specified below or required by law, whichever is greater:

(a)

Workers' Compensation and Employer's Liability Insurance in the minimum amount of $500,000 per person/per occurrence;

(b)

Garage Liability in the minimum amount of $500,000 per person, per occurrence covering bodily injury and property damage resulting from the valet parking operator's ramping and storing of vehicles on public property;

(c)

Garagekeepers Legal Liability Insurance in the minimum amount of $250,000 per location, per occurrence with a maximum deductible of $1,000 to provide collision and comprehensive coverage for vehicles under the control of the valet parking operator.

(2)

All insurance companies providing the required coverages shall be rated A- or better by Best's Rating Guide.

(3)

The City shall be named as an additional insured on all liability insurance required herein except Workers' Compensation.

(4)

Insurance Certificates evidencing all required insurance coverages and providing that the coverage shall not be cancelled or modified without 30 days prior written notice to the City shall be filed with the Parking Bureau prior to the operation of the valet service.

(Ord. of 6-1-1998, Doc. #31261)