(1) The developer of record shall carry comprehensive general and automobile insurance in an amount not less than $2,000,000. The liability insurance shall be maintained in its original amount by the developer during the period the permit and approval are in effect. The insurance shall include the city as an additional named insured and shall protect the city from any liability up to those amounts for any accident, negligence, or any other liability whatsoever, relating to the construction or maintenance of the development. Liability insurance can be waived for projects less than 500 cubic yards of excavation, fill, or a combination thereof unless associated with a development application for short plat, subdivision binding site plan, or commercial site development permit.

(2) The developer shall not commence work until he has furnished evidence (in duplicate copy) of liability insurance, and such insurance has been approved by the city; nor shall the developer allow any contractor or subcontractor to commence work on his contract or subcontract until the same insurance requirements have been complied with by such contractor or subcontractor. Approval of the insurance by the city shall not relieve or decrease the liability of the developer thereby. Companies writing the insurance under this section shall be authorized to do business in the State of Washington. (Ord. 08-13 § 3 (Exh. A); Ord. 14-09 § 7)