A. A comprehensive commercial or general liability insurance policy or policies, issued by an insurance carrier licensed to do business in the state of Washington and reasonably acceptable to the city. Said policy or policies shall pay on behalf of and defend the city, its officials, boards, commissions, agents or employees from any and all claims by any person whatsoever (including the costs, defense costs, attorneys’ fees and interest arising therefrom) on account of personal injury, bodily injury or death of a person or persons or damages to property occasioned by the operations of a grantee under a franchise herein granted, or alleged to have been so caused or occurred, with a minimum combined single limit of not less than $1,000,000 per occurrence and $5,000,000 in the annual aggregate. The city reserves the right to revise policy limits during the term of the franchise as reasonably necessary to provide adequate coverage.

B. A comprehensive automobile liability insurance policy or policies, issued by an insurance carrier licensed to do business in the state of Washington and reasonably acceptable to the city. Said policy or policies shall pay on behalf of and defend the city, its officials, boards, commissions, agents or employees from any and all claims by any person whatsoever (including the costs, defense costs, attorneys’ fees and interest arising therefrom) for bodily injury and property damage occasioned by any vehicle operation of a grantee, or alleged to have been so caused or occurred, with a minimum liability of not less than $1,000,000 per person and $5,000,000 in any one accident or occurrence. The city reserves the right to revise policy limits during the term of the franchise as reasonably necessary to provide adequate coverage. (Ord. 5531 § 2, 2004.)