Each applicant, prior to receipt of a permit, shall provide
the Township with an acceptable certificate of insurance indicating
that he is insured against claims for damages for personal injury
as well as claims for property damage which may arise from or out
of the performance of the work, whether such performance is by himself,
his subcontractor or anyone directly or indirectly employed by him.
Such insurance shall cover collapse, explosive hazards and underground
work by equipment on the street and shall include protection against
liability arising from completed operations for a period of time to
be determined by the Township Committee. The amount of the insurance
shall be $1,000,000 single limit. Public utilities and authorities
may be relieved of the obligation of submitting such certificates
if they are insured in accordance with the requirements of this chapter.