Before any permit to conduct a taxicab business is issued, the permittee shall be required to file with the City Attorney and thereafter keep in full force and effect, a policy of insurance in such form as the City Attorney may deem proper. Such policy of insurance shall insure the owner and the driver of each of the vehicles operated, or to be operated under the permit, against liability for damage to property and for injury to, or death of, any person as a result of the ownership, operation or other use thereof. The minimum liability limits on each such vehicle shall be not less than One Hundred Thousand Dollars ($100,000.00) on account of personal injury to, or death of, any one person in any one accident, and Three Hundred Thousand Dollars ($300,000.00) on account of personal injury to, or death of, two (2) or more persons in any one accident, and the minimum liability limits on each such vehicle shall be not less than Twenty-Five Thousand Dollars ($25,000.00) for damage to, or destruction of, property in any one accident. All such policies shall contain a provision for the continuing liability thereunder up to the full amount of coverage thereof, notwithstanding any recovery thereon, and naming the City as an additional insured thereunder for all claims, demands and actions of any type whatever occasioned by the operation of the permittees taxicab business; and shall further contain a provision or endorsement providing that such policy will not be cancelled until notice in writing shall be given to the City addressed in care of the City Attorney, City Hall, Culver City, California 90230, at least thirty (30) days immediately prior to the time such cancellation shall become effective.
('65 Code, § 34-13) (Ord. No. 83-020 § 1)