(a) No person shall operate a carriage business or a carriage, nor shall any carriage business or carriage license be issued until the applicant deposits with the Commissioner a policy or certificate of liability insurance for each carriage for which a license is sought, acceptable to and approved by the Commissioner and the Director of Law, insuring the applicant against property damage and personal injury liability in the following amounts: not less than five hundred thousand dollars ($500,000.00) for injuries, including accidental death, to any one (1) person, not less than one million dollars ($1,000,000.00) on account of one (1) occurrence involving injury to more than one (1) person, and five hundred thousand dollars ($500,000.00) for property damage. The license shall expire upon the lapse or termination of the policy of insurance.
(b) The policy of insurance required by this section shall contain a provision for continuing liability thereunder to the full amount thereof, notwithstanding any recovery thereon. If at any time, in the judgment of the Commissioner, the policy is not sufficient for any cause, the Commissioner may require the policy to be replaced with another approved by the Commissioner and the Director of Law.
(Ord. No. 599-11. Passed 6-6-11, eff. 6-13-11)