All insurance policies shall be with sureties qualified to do
business in the State of Maryland, with an A-1 or better rating of
insurance by Best's Key Rating Guide, Property/Casualty Edition,
and in a form acceptable to the Town.
All insurance policies shall be available for review by the
Town, and the franchisee shall keep on file with the Town certificates
of insurance.
All general liability insurance policies shall name the Town,
its officers, boards, commissions, Commissioners, agents and employees
as additional insureds and shall further provide that any cancellation
or reduction in coverage shall not be effective unless 30 days'
prior written notice has been given to the Town. A franchisee shall
not cancel any required insurance policy without submission of proof
that it has obtained alternative insurance satisfactory to the Town
which complies with its franchise agreement.
Failure to comply with the insurance requirements set forth
in this article shall constitute a material violation of a franchise.
Neither the provisions of this section nor any damages recovered
by the Town shall be construed to limit the liability of the franchisee
for damages under the franchise.