A. No person shall be entitled to permits under this chapter unless and until he has filed and maintained on file with the public works director a certificate showing and certifying that such person carries public liability and property damage insurance, issued by an insurance carrier authorized to do business in the state, insuring the applicant and issued to the city, against loss by reason of injuries to or death of persons, or damages to property, caused by the applicant, its agent or employees in performing any work under the permit, in the amount determined necessary by the city attorney. Additionally, certificates of workers’ compensation insurance or permission to self-insure complying with California Labor Code Section 3800 shall be submitted.

B. The certificates of insurance required under this chapter shall include a rider containing the unequivocal agreement of the insurance carrier to give the city ten days’ notice of cancellation of such insurance. Cancellation of such insurance shall be cause for immediate permit revocation and completion of work covered by the permit as if the permittee were in default of any obligation created by this chapter.