(A) The city shall not issue a permit unless the wrecker operator shall procure and keep in full force and effect automobile liability insurance and garage keepers liability insurance or truck cargo insurance written by an insurance company authorized to do business in the state and acceptable to the city and issued in the standard form approved by the State Board of Insurance. The policies of insurance shall require at least 30 days written notice to the city of any cancellation or termination or of any material change in the terms of the insurance coverage. The insurance policies shall contain appropriate provisions to cover all wreckers and wrecker operators conducting business under the license.
(B) The automobile liability insurance must provide combined single limits of liability for bodily injury and property damage of not less than $100,000 for any person killed or injured, $500,000 for more than one person killed or injured in any one accident and $100,000 for property damage and theft coverage on all vehicles removed or impounded. The automobile liability insurance must also meet the minimum requirements under the laws of the state.
(C) The garage keepers liability insurance or tow truck cargo insurance, whichever is maintained, must provide limits of liability for any one loss of not less than $50,000.
(D) A copy of the required insurance policies shall be submitted to the city at the time of application for a wrecker permit and a current copy of the policies shall be maintained with the Chief of Police throughout the term of the permit.
('78 Code, § 18-29) (Ord. 1108, passed 1-22-96) Penalty, see § 113.99