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CHAPTER 59 <br /> ADDITIONS AND���6�F� <br /> 4. INSURANCE. , <br /> > > , • <br /> > > > > • <br /> No such license shall be valid unless there is, and all privile�es under anv issued license shall <br /> terminate automatically at anvtime there ceases to be, on file with the Finance Department, a <br /> certificate evidencing valid contracts of insurance between the licensee and a companv authorized <br /> to do business in this State and approved bv the Citv Risk Manager. <br /> The licensee ma�purchase insurance for the full limits required, or a combination of primary <br /> policies for lesser limits and the remaining limits provided bv an Umbrella or Excess policv. Anv <br /> policv providin� excess limits shall name the Citv as additional insured and be primarv. The <br /> Certificate shall provide for not less than thirty(30) davs notice to the Citv before cancellation or <br /> modification of coverage can be effective. <br /> The insurance contracts shall provide <br /> (al Comprehensive General Liability on an occurrence basis for premises, operations, <br /> completed operations and product liabilitv with limits not less than$1.000,000 per occurrence and <br /> $2.000,000 in the ag regate and for completed operations and products. The Citv will be named <br /> as an additional insured and the licensee's insurance must be primarv. <br /> (b) Commercial Auto Liabilitv with limits of not less than $1.000.000 Combined Sin�le <br /> Limit for bodil�jurv and propertv dama�e each occurrence. The policv shall also cover hired <br /> and nonowned vehicles. The Citv will be named as an additional insured and the licensee's <br /> insurance must be primar� <br /> �c) Workers Compensation insurance according to the provisions of the <br /> Illinois Worker's Compensation Act, as amended, with Emplover's Liabilitv of <br /> not less than $500,000 each accident, $500,000 for Disease - policv limit and �, <br /> $500,000 for Disease- each emplo,� , <br />