(a) All private security firms other than State agencies shall carry insurance for the purpose of indemnifying third persons for bodily injury, in amounts not less than $200,000 for each bodily injury and $500,000 aggregate limit; and further, to indemnify third persons for any damage to property as the result of the actions of the private security firm’s employee, agent, or guard in an amount of not less than $100,000 per claimant and $300,000 aggregate limit. Evidence of such coverage shall be provided to the Chief of Police, and it shall be the private security firm’s responsibility to assure that either the private security firm or its insurance carrier has notified the Chief of Police of any lapse or cancellation in coverage within 10 days of notification to the insured.

(b) Failure to carry the required insurance or to notify the Chief of Police of any lapse or cancellation of coverage within 10 days of notification to the insured shall be unlawful. (Ord. 20463 § 3, 11-21-23.)