(a) A licensee shall procure, or cause to be procured, and keep in full force and effect, and shall keep on file with the director, a policy of garage liability and garage keepers liability insurance, as evidenced by a certificate of insurance issued by a casualty insurance company authorized to do business in this state and accepted by the risk manager for the City of Fort Worth. The insured provisions of the policy must include a waiver of subrogation in favor of the City of Fort Worth as well as name the City of Fort Worth, and its officers and employees, as additional insureds. The coverage provisions must insure the public from loss or damage that may arise to any person or property by reason of the operation of a valet parking service by the licensee.
(b) The garage liability insurance shall provide liability for bodily injury and property damage resulting from the garage operations or operations of any auto whether or not owned by the insured and shall be in the minimum limit of $1,000,000; other than garage operations which shall be $1,000,000 per occurrence and an aggregate of $2,000,000.
(c) In addition, the garage keepers insurance must provide a limit of liability for property damage of not less than $1,000,000 for vehicles in the care custody and control of the licensee. Maximum deductibles shall not exceed $1,000 per unit, $5,000 per loss comprehensive and $1,000 for collision.
(d) The insurance policy required by subsection (a) of this section shall contain an endorsement which provides for ten days' notice to the director in the event of any material change or cancellation of the policy.
(e) Upon the director's approval, an exception to the following requirements may be made if the exclusion of garage liability is waived and endorsed by the commercial general liability insurance policy to include garage operations.
(f) This section does not preclude additional or more stringent requirements for valet parking services operated under a contract with the City of Fort Worth.
(Ord. 15092, § 1, passed 5-7-2002; Ord. 15201, § 1, passed 8-27-2002; Ord. 18318-09-2008, § 4, passed 9-30-2008; Ord. 22224-05-2016, § 1, passed 5-17-2016)