§ 4-75-080 — Insurance - Required

4-75-080 Insurance - Required.

Each licensee under this chapter shall furnish proof of insurance, evidencing commercial general liability insurance, with limits of not less than $300,000.00 per occurrence, for bodily injury, personal injury, and property damage arising in any way from the issuance of the license or activities conducted pursuant to the license. Each policy of insurance required under this section shall: (1) be issued by an insurer authorized to insure in the State of Illinois; (2) name the City of Chicago as additional insured on a primary, noncontributory basis for any liability arising directly or indirectly from the licensee's operations; and (3) include a provision requiring 30 days' advance notice to the commissioner prior to cancellation or lapse of the policy. The licensee shall maintain the insurance required under this section in full force and effect throughout the duration of the license period. Upon request by any authorized city official, a proof of insurance shall be made available for inspection by such city official. (Added Coun. J. 5-9-12, p. 27485, § 41; Amend Coun. J. 10-28-15, p. 11951, Art. VI, § 16; Amend Coun. J. 11-16-16, p. 37901, Art. II, § 12)