§ 36.08. Insurance requirements.

All licensees shall have in effect, prior the issuance of any license hereunder, liquor liability insurance with limits of not less than one million dollars ($1,000,000.00) combined single limit or one million dollars ($1,000,000.00) per occurrence and per aggregate, and shall submit a certificate or policy of insurance as evidence of such coverage, issued by an insurance company licensed to do business in the State of Illinois and having a best rating acceptable to the city. The effective period of such insurance coverage shall coincide with the period for which the license is in effect. This section shall not apply to Class "PD" licenses, in the case of Class "D" licenses, the local liquor commissioner may allow insurance in such lesser amounts as he deems appropriate, based upon the conditions and circumstances surrounding the sale of alcoholic liquor by such licensees.