§ 114.09  INSURANCE OR GUARANTY BOND REQUIREMENTS.
   (A)   No permit to operate a taxicab in the city shall be issued until after the applicant therefor has filed with the Clerk-Treasurer a contract of insurance or guaranty bond.
   (B)   The contract of insurance or guaranty bond shall be issued by a reliable insurance company admitted to do business in the state, with not less than $1,000,000 in assets.
   (C)   The contract of insurance or guaranty bond shall be not less than $15,000 to $30,000 public liability policy for protection of bodily injury, with additional coverage of $10,000 for property damage. The policies are to be the standard form of non- deductible.
   (D)   The contract of insurance or guaranty bond shall provide that it will pay for any and all damages imposed by law upon the applicant, or any other person operating any motor vehicle as a taxicab under the permit, or by virtue of the provisions thereof, provided the damages result from bodily injury including death, and damage to property sustained by any person during the period covered by the contract of insurance or guaranty bond, by reason of the ownership, maintenance, operation or use under the permit, or by virtue of the provisions thereof, of any motor vehicle as a taxicab by any person whomsoever regardless of the ownership of the motor vehicle.
   (E)   The contract of insurance or guaranty bond shall contain the further provision that the obligations and promises contained therein shall not be affected by any act or omission of:
      (1)   The named insured, its agents, employees, bailees or licensees;
      (2)   Any other person operating any motor vehicle as a taxicab under the permit;
      (3)   By virtue of the provisions thereof on account of a default in the payment of the premium on the contract of insurance or guaranty bond;
      (4)   The giving of any notice required by the provisions thereof or otherwise; or
      (5)   By the insolvency of the insured named therein.
   (F)   It shall further be provided in the contract of insurance or guaranty bond, that no cancellation thereof shall become effective for any reason until five days after the written notice of the cancellation has been filed with the Clerk-Treasurer.
   (G)   (1)   The contract of insurance or guaranty bond shall provide that it shall be in full force and effect from and after the issuance of a permit to the applicant, and no permit shall be issued to any applicant therefor, unless the contract of insurance or guaranty bond has been filed with and approved by the Common Council.
      (2)   No contract of insurance or guaranty bond shall contain any provision that liability shall not exist for claims, loss or damage, arising while the taxicab is being operated from one place to another by any person under the influence of liquor.
(Prior Code, § 114.09)  (Ord. 659, passed 10-5-1959)