5601.2.4 Financial responsibility.
FC § 5601.2.4
Applicants for a permit shall submit proof satisfactory to the department that the applicant has obtained and will maintain for the duration of the permit period a liability and casualty insurance policy, covering the permit holder, its officers, employees and agents, for personal injuries and property damage resulting from the permitted activity or the failure of the permit holder, its officers, employees and agents, to comply with any requirement of this chapter, any rule promulgated hereunder or the terms and conditions of the permit. Such insurance policy shall name the city of New York as an additional insured and shall provide for notice to the department at least ten days prior to any material change, cancellation or termination thereof. Such insurance policy shall be in the following amounts, as applicable.
1.High explosives. The insurance policy for the storage or use of high explosive, including any blasting operation, shall be in an amount to be determined by the department but not less than five million dollars.
2.Low explosives. The insurance policy for the storage of low explosives, small arms ammunition, primers, black powder or smokeless propellants shall be in an amount to be determined by the department but not less than one hundred thousand dollars.
3.Fireworks. The insurance policy for the discharge of fireworks, including any fireworks display, shall be in an amount to be determined by the department but not less than two million dollars.
4.Special effects. The insurance policy for the conduct of any pyrotechnic special effects, including any special effects involving the storage or use of a pyrotechnic material, article or device, shall be in an amount to be determined by the department but not less than one million dollars. The insurance policy for the conduct of non-pyrotechnic special effects shall be in an amount to be determined by the department.
