(a) (Amended by Ord. No. 170,068, Eff. 11/18/94.) Before any vehicle permit or franchise is issued for any vehicle mentioned in Section 71.00, the operator of the vehicle shall file with the Department, and shall thereafter keep in full force and effect a policy of insurance in such form and amounts as the Board in consultation with the City Administrative Officer’s Risk Management Section may from time to time require but not less than the appropriate sums specified in the following table. Such insurance shall be written by an insurance company authorized to do business in the State of California, insuring the operator against liability for any loss or damage that may result to any persons or property from the operation of such vehicle:
Seating Capacity of Vehicle | For Bodily Injury to or Death of One Person | For Bodily Injury to or Death of More Than One Person in Any One Accident | For Loss or Damage to Property in Any One Accident |
1 - 7 passengers | $100,000 | $300,000 | $50,000 |
8 - 12 passengers | 100,000 | 350,000 | 100,000 |
13 - 20 passengers | 100,000 | 450,000 | 100,000 |
21 - 30 passengers | 100,000 | 500,000 | 100,000 |
Over 30 passengers | 100,000 | 600,000 | 100,000 |
EXCEPTION:
Operators of non-motorized vehicles shall maintain a policy of insurance for public liability and property damage in amounts to be determined by the Board.
Such operator may, in lieu of the aforesaid policy of insurance, file with the Department a bond in such form as the Department may require, approved by the City Attorney, executed by a corporate surety authorized to conduct business under the laws of the State of California as a surety in a sufficient amount which bond shall be conditioned upon the payment of all final judgments which may be rendered against such operator for damages on account of injuries to any person or property from the operation of such vehicle, and which bond shall be in the amount specified in the following table, according to the size and number of motor vehicles permitted or franchised.
Number of Vehicles Owned or Offered For Hire | Amount of Bond as to Vehicles Having a Seating Capacity of Less than 11 Passengers | Amount of Bond as to Vehicles Having a Seating Capacity of More than 10 Passengers |
1 | $220,000.00 | $440,000.00 |
2 - 5 | 300,000.00 | 600,000.00 |
6 - 20 | 400,000.00 | 800,000.00 |
21 - 60 | 500,000.00 | 1,000,000.00 |
61 - 100 | 600,000.00 | 1,200,000.00 |
Over 100 | 700,000.00 | 1,400,000.00 |
(b) In the event of the return unsatisfied of any execution issued on any judgment rendered against such operator for damages on amount of injury to person or property occasioned by such motor vehicle, such operator shall, within ten days after the return of such execution unsatisfied, pay such judgment or increase the amount of his bond by the amount thereof, and failing to do so, he shall forthwith cease his operations until such judgment is paid or such bond is so increased. (Amended by Ord. No. 165,491, Eff. 3/19/90.)
(c) All policies or bonds shall contain a provision for continuing liability thereunder up to the full amount thereof notwithstanding any recovery thereon.
(d) If an operator has net assets of at least $500,000.00, he/she may file with the Department a current balance sheet certified by a certified public accountant, and if such balance sheet be approved by the Board, and if the Board shall find that such person has net assets of at least $500,000.00, as aforesaid, and has stipulated in writing to meet all other conditions prescribed by the Board, after Board’s consideration of recommendations of the City’s Risk Manager, as required for self-insurance, then no policy of liability insurance or bond need be filed by such operator; subject, however, to the provisions of Subsection (e) of this section. (Amended by Ord. No. 165,491, Eff. 3/19/90.)
(e) Any operator electing to file a balance sheet in lieu of a policy of liability insurance or bond as hereinabove provided shall thereafter file with the Department, at such period or periods as may be prescribed by the Board from time to time, but not less than annually, current balance sheets certified to by a certified public accountant. The Board may at any time make a further investigation of the net assets of any such person, and whenever the Board find that such person does not appear to have net assets of at least $500,000, as aforesaid, or has not complied with other provisions required as conditions of self-insurance, the Board may revoke the authority of such person to file balance sheets in lieu of a policy of liability insurance or bond, as aforesaid, and shall require such person immediately to file with the City a policy of liability insurance or bond as hereinabove required. (Amended by Ord. No. 165,491, Eff. 3/19/90.)
(f) No person shall operate any vehicle described in Section 71.00 unless there is a policy or bond on file in full force and effect as provided by this section or there is a current balance sheet on file with the Department approved by the Board as aforesaid, and such person is in compliance with all other Board requirements for self-insurance. (Amended by Ord. No. 162,615, Eff. 8/16/87.)
(g) Any operator may file with the Department such combination of policy of insurance and bond as will afford the public protection at least equivalent to the insurance specified above with respect to the payment of judgments obtained against said operator. Such filing shall be subject to approval by the City Attorney. (Amended by Ord. No. 165,491, Eff. 3/19/90.)