(a) No certificate of public convenience and necessity shall be issued or continued in operation unless there is in full force and effect a policy of comprehensive automobile liability insurance in a form prescribed by the risk manager, executed by an insurance company approved by the risk manager with a Best’s Key Rating of not less than “A VII,” unless otherwise approved by the risk manager, whereby the owner and driver of each of the vehicles operating pursuant to the certificate as well as the holder of the certificate of public convenience and necessity are insured against liability for damage to property and for injury to or death of any person as a result of the ownership operation or other use thereof. The minimum liability limits shall not be less than one million dollars combined single limit per occurrence applicable to all owned, non-owned and hired vehicles; provided, however, that a higher amount and/or broader coverage may be required by the city if deemed necessary.
(b) Such policy of insurance shall contain an endorsement providing that the policy will not be cancelled until notice in writing has been given to the city, addressed in care of the Chief of Police, P.O. Box 10250, Palo Alto, California 94303, at least thirty days immediately prior to the time such cancellation becomes effective.
(c) Such policy of insurance shall name the city, its officers, agents and employees as additional insureds.
(d) Certificate holders, vehicle owners and drivers shall indemnify, defend and hold harmless the city, its officers, agents and employees, from any loss, liability, claim, injury or damage arising or alleged to arise from the willful or negligent acts or omissions of the certificate holder, vehicle owner or driver in connection with the provision of transportation service pursuant to the certificate.
(Ord. 5454 § 2 (part), 2018: Ord. 4223 § 4, 1994: Ord. 3286 § 1 (part), 1981)