A. No ambulance service license shall be issued under this chapter, nor shall such license be valid after issuance, nor shall any ambulance be operated in Knoxville, Iowa, unless there is at all times in force and effect insurance coverage, issued by an insurance company licensed to do business in the State of Iowa, for the ambulance service and for each and every ambulance owned and/or operated by or for the applicant or licensee. The minimum limits of liability of the insurance policy will be as follows:
1. To cover the insured’s legal liability for personal injury or death resulting therefrom, for each ambulance, for any recovery by one person as a result of any one accident or cause, one million dollars; and for all persons receiving personal injury as a result of any one accident or other cause, three million dollars.
2. To cover the insured’s legal liability for damage to or destruction of any property as a result of any one accident or other cause, one million dollars.
B. Certificates evidencing said insurance policies shall be submitted with application for approval prior to the issuance of each license. The certificates shall be subject to all requirements as the City Council may adopt from time to time.
C. Every insurance policy required hereunder shall contain a provision (i) for continuing liability thereunder to the full amount thereof, notwithstanding any recovery thereon, (ii) that the liability of the insurer shall not be affected by the insolvency or the bankruptcy of the insured, and (iii) that until the policy is revoked the insurance company will not be relieved from liability on account of nonpayment of premium, failure to renew license at the end of the year, or any act of or omission of the named insured.
D. Every insurance policy required hereunder shall extend for the period to be covered by the license applied for and the notice to the City of Knoxville, Iowa, and to the insured before any cancellation or termination of the policy earlier than its expiration date and the cancellation or other termination of any such policy shall automatically revoke and terminate the licenses issued for the ambulances covered by such policy, unless another insurance policy complying with the provisions of this section shall be provided and be in effect at the time of such cancellation or termination. (Ord. 23-09, 7-17-2023)