Before any license is issued under this chapter, the applicant or licensee shall present to the City Clerk evidence of a satisfactory public liability insurance policy covering all operations of $500,000 combined single limit for liability and property damage. Such policy may be written to allow no more than $1,000 for a paid deductible. Should any policy be cancelled, the City shall be notified of such cancellation within 10 days after such cancellation is effective, and provisions to that effect placing upon the company writing such policy the duty to give such notice shall be incorporated in such policy. If any such insurance policy at any time fails, in the opinion of the Public Works Director, Planning Director or their designees, to comply with the provisions of this section or to afford reasonably satisfactory protection to the persons intended to be protected thereby, he/she shall in writing so notify the licensee and the City Clerk, and failure to maintain the insurance required by this section shall be grounds for revocation of any such license or, in the discretion of the Public Works Director, Planning Director or their designees, for the suspension thereof until the insurance required by this section is so furnished, and it shall be unlawful for any person to engage in business while the license to do so is for any reason suspended or after such license is for any reason revoked. (Ord. 17906 § 11, 10-15-02. Code 1981 § 39-25. Code 1995 § 118-104.)