[Code 1980 §25-16; CC 1990 §22-26]
A.
Every applicant for an excavation permit shall register with the City proof that the applicant is maintaining liability insurance in the sum of one million dollars ($1,000,000.00) for bodily injury to each person, one million dollars ($1,000,000.00) for bodily injury to all persons in one (1) occurrence and one million dollars ($1,000,000.00) for all property damage in one (1) occurrence arising out of or on account of excavation work or on account of or in consequence of any neglect in safeguarding the work. Such insurance shall be carried in a firm or corporation which has been licensed or permitted to carry on such business in the State and shall be kept and maintained continuously in force and effect so long as the excavation work shall be in process. A verified copy of the insurance policy shall be filed with the Director of Public Works, with the certificate of the insurer that the policy is in full force and effect and that such insurance will not be altered, amended, terminated or ended without notice having been given to the City. In lieu of the insurance as herein provided, the applicant may deposit a corporate or other surety bond in the penal sum of one hundred thousand dollars ($100,000.00) conditioned that he/she will pay any judgment recovered by any person injured or any property damage incurred on account of the excavation work or on account of or in consequence of any neglect in safeguarding the work. In the event the insurance policy provided for herein lapses and is not immediately renewed or any bond terminates in any manner whatsoever and a substitute in lieu thereof is not deposited, the permit for such excavation shall be revoked immediately.
B.
The provisions of this Section shall not apply to individual property owners who are doing their own work and do not hire an outside contractor to complete the improvement.