(a) No license shall be issued until the applicant has filed with the Controller an insurance binder demonstrating that the applicant has sufficient insurance for liability and property damage, in those amounts provided in this division.
(b) A licensee shall maintain public liability insurance covering each taxicab or limousine to be used by the applicant in his business, in an amount of at least:
(1) $500,000 per accident for accidental injury or death;
(2) $500,000 per person for accidental injury or death; and
(3) $100,000 for property damage.
(c) The certificate of insurance shall provide that the city shall receive notice not less than 30 days prior to cancellation. Failure to comply with this section shall be cause for immediate revocation of the owner's taxicab license.
(`91 Code, § 4-50) (Ord. D-512, § VI, A, B, C, D, 5-4-87; Ord. D-2317-16, § 12, 9-19-16; Ord. D-2505-19, 12-16-19)