(a) It shall be unlawful for any person to operate a taxicab business within the unincorporated areas of the County unless the person has in effect insurance coverage issued by a company authorized to transact insurance business in the State of California with coverage amounts that meet the requirements of paragraph (b) below. The insurance coverage required by this section shall insure the public against any loss or damage that may result to any person or property from the operation of all taxicabs used by the operator in the operator's business. A taxicab operator shall furnish the Issuing Officer with a certificate of insurance coverage as a prerequisite to obtaining a taxicab operator's license. The certificate shall provide that the insurer will notify the Issuing Officer in writing of any policy cancellation and the notice shall be sent to the Issuing Officer by registered mail at least 30 days prior to cancellation of the policy. The certificate shall also state:
(1) The full name of the insurer;
(2) The name and address of the insured;
(3) The insurance policy number;
(4) The type and limits of coverage;
(5) The specific vehicle(s) insured;
(6) The effective dates of the certificate; and
(7) The certificate issue date.
(b) The insurance shall provide coverage for each taxicab in an amount not less than $350,000 per occurrence, combined single limit for bodily injury and property damage.
(c) In addition to the requirements in subsection (a) of this section, insurer must also meet the following criteria:
(1) Admitted in California by the California Department of Insurance
(2) Insurers must have an A.M. Best Company Financial strength rating of A- (excellent), or better.
(3) All companies must have a financial size category of not less than VII (seven -$50- $100 million), or similar Standard and Poors rating.
(Amended by Ord. No. 5931 (N.S.), effective 11-18-80; Ord. No. 5938 (N.S.), adopted 11-25-80, effective 12-25-80, supersedes Ord. No. 5931; amended by Ord. No. 7309 (N.S.), effective 7-2-87; amended by Ord. No. 9889 (N.S.), effective 10-26-07; amended by Ord. No. 10134 (N.S.), effective 4-14-11; amended by Ord. No. 10312 (N.S.), effective 2-6-14; amended by Ord. No. 10540 (N.S.), effective 7-19-18)