§ 94-39. Liability insurance.

(a)

Required. No person shall be allowed, and it shall be unlawful, to drive or operate a taxicab in the city, unless and until a liability insurance policy is procured and filed with the city clerk. Such policy must be signed by a surety or insurance company authorized to do business in the state, and the form of the policy shall be approved by the city attorney and the police committee.

(b)

Amount. The amount of liability insurance for each taxicab shall not be less than $100,000.00 for each person injured and $300,000.00 for bodily injury in any one accident, and not less than $100,000.00 for property damage in any one accident. A policy in such amounts shall be furnished for each car or taxicab operated. The policy may be in the form of a fleet policy covering all taxicabs operated by any one owner, in which event, such policy shall provide the minimum amount of coverage, as set forth in this subsection, for each taxicab operated by the owner.

(c)

Cancellation. Before any policy of insurance as provided for in this section shall be cancelled for nonpayment of premiums or otherwise, notice, in writing, must be given to the city clerk at least ten days before the policy cancellation shall take effect.

(d)

Purpose. The liability insurance required by this section shall be for the benefit of the city and for the use and benefit of the public.

(e)

Term. Liability insurance policies must be procured for a period of at least one year from the date of issuance of such policies. The procuring of such liability insurance policies on monthly terms is specifically prohibited.

(Code 1982, § 22-28)