(A) Before any such license is issued, the applicant therefor shall furnish one or more policies of insurance prepaid for at least one year, issued by responsible insurance companies in a minimum amount of $100,000/$300,000 liability for property damage and bodily injury on the automobiles. Further, before any such license is issued, the applicant therefor shall furnish to the city a policy of insurance, with minimum limits of $100,000/$300,000, naming the city as an additional insured, covering premises liability and other alleged negligent acts of the taxicab operator.
(1990 Code, § 7.83)
(B) Every such insurance policy shall contain a clause obligating the insurer to give the City Clerk, by registered mail, at least ten days written notice before the cancellation, expiration, lapse or other termination of such insurance.
(1990 Code, § 7.84)