(a) No person shall operate or cause or permit the operation of a taxicab unless the licensed taxicab company operating such taxicab deposits with the City Manager a certificate of insurance executed by a duly licensed representative of an insurance company licensed and admitted to sell motor vehicle insurance in the State of Ohio, as specified in Section 862.04(a)(4) of this chapter, verifying the owner of the taxicab(s) to be covered by Automobile Liability Insurance with coverages for each taxicab of not less than two hundred fifty thousand dollars ($250,000.00) coverage per person for bodily injury, including death and of not less than twenty-five thousand dollars ($25,000.00) per occurrence for property damage. The taxicab company operating such taxicab shall also deposit with the City Manager a receipt from the insurance company verifying that insurance premiums have been paid in advance, not less than once each month, on or before the first business day of the month.
(b) The required certificate of insurance shall contain a provision to the effect that, in addition to any notice required to be given to the insured under the terms of the policy, no cancellation of such policy shall become effective without at least thirty calendar days advance written notice, addressed to the City Manager of the intent to accomplish such cancellation. In case of the cancellation of any such policy of insurance, the license or licenses issued for any or all taxicabs affected by such cancellation shall be immediately revoked by the City Manager effective on the date such cancellation is intended to be accomplished and no such taxicab or taxicabs shall be operated on and after the effective date of such revocation until a new taxicab company license has been applied for and issued; provided, however, if one or more new policies of insurance conforming to the provisions of this section are filed with the City Manager prior to the date such cancellation is intended to be accomplished, the City Manager shall forthwith withdraw his notice of revocation without the payment of any further fee by the licensed taxicab company.
(c) Notwithstanding the provisions of divisions (a) and (b) of this section, a valid Certificate of Self Insurance issued to the company by the State of Ohio Department of Public Safety, Bureau of Motor Vehicles pursuant to Ohio R.C. 4509.72 may be provided in lieu of acquiring an insurance contract and providing a certificate of insurance.
(Ord. 00-16. Passed 5-15-00.)