§ 73A-5. Indemnity and insurance.

A. 

The tower shall indemnify and hold harmless the Borough of Paulsboro from any and all claims against the Borough of Paulsboro arising out of the operation of any towing services or garage services or storage services or repair services under this chapter. Liability insurance shall include contractual liability of $1,000,000 combined single limit.

B. 

The tower shall carry workers' compensation insurance in accordance with the requirements of New Jersey state law. The tower shall also carry public liability and property damage, contingent liability insurance to indemnify the Borough of Paulsboro and the public against any loss due to injuries, accidents or damages of any character whatsoever, where any such damage is the result of any act or omission of the tower, his agents or employees in or due to the execution of the work called for under this chapter. Such policies shall contain the provision that 30 days' notice of change or cancellation be given to the Borough by the insurance company. Public liability insurance limits shall be at least $500,000 per accident and be specifically endorsed to provide collision insurance for vehicles in tow. In addition, the tower shall have coverage for contractual liability and also name the Borough as an additional insured. All insurance required hereunder shall remain in full force and effect for the period of the appointment.

C. 

The tower shall carry appropriate bodily injury liability insurance with $1,000,000 combined single limit; automobile bodily injury liability insurance with limits of not less than $500,000 for each person and $1,000,000 for each accident; and property damage liability insurance with a limit of not less than $500,000 for each accident.

D. 

The tower shall carry garagekeeper's liability in an amount not less than $60,000 per location and garage liability in an amount not less than $1,000,000 combined single limit.

E. 

Certificates of insurance showing that the tower and the Borough of Paulsboro are named as additional insured, in conformance with the above, shall be furnished to the Borough Purchasing Agent, subject to approval of the Borough Solicitor, and filed with the Borough Clerk. The certification of insurance shall be delivered to the Borough Purchasing Agent.