The applicant for a license under this chapter shall file with the city clerk in a form to be approved by the city attorney's office, evidence that the city has been named as an additional insured on the permittee's liability insurance which will provide liability insurance coverage for the city in the amount of not less than fifty thousand dollars ($50,000.00) for each bodily injury and one hundred fifty thousand dollars ($150,000.00) aggregate limit; property damage in the amount of not less than twenty-five thousand dollars ($25,000.00) per claimant, fifty thousand dollars ($50,000.00) aggregate limit; and the cost of defense of any claim brought against the city or any agency thereof as a result of any claim arising out of an allegation that the permittee, its officers, agents, servants or employees committed some act of omission or commission resulting in bodily injury or property damage for which claim is made against the city.

Permittee and its insurance carrier will indemnify and save harmless the city from all liability for any injury to persons or property which the permittee, its agents, servants or employees may cause by reason for engaging in the business of merchant police service. (Prior code § 6-1016)