No permit shall be issued until and unless the applicant therefor, in addition to all other requirements set forth, shall file and maintain with the Director evidence of a satisfactory public liability insurance policy including uninsured and underinsured motorists, covering all operation of such applicant pertaining to such business and all vehicles to be operated in the conduct thereof, in the amount of not less than $100,000 for each person injured or killed, and in the amount of not less than $300,000 in the event of injury or death of two or more persons in any single accident, and in the amount of not less than $250,000 for damage of property. Such policy may be written to allow the first $1,000 of liability for damage to property to be deductible. Worker’s compensation and employee’s liability insurance shall be provided to cover injury or death to any of the employees or workmen in compliance with Worker’s Compensation Act, being KRS 342.001 et seq. Should any such policy be cancelled, the Director shall be notified of such cancellation by the insurance carrier in writing not less than ten days prior to the effective date of such cancellation, and provisions to that effect shall be incorporated in such policy, which shall also place upon the company writing such policy the duty to give such notice.
(Ord. 1991-830.1, passed 5-21-1991; Ord. passed - -)