It shall be unlawful for any driver of any taxicab to operate the same upon the streets of the city until the same is fully covered by insurance in some reliable insurance company to cover all accidents and damage caused from negligent operation of the driver, and the insurance has been approved by the Board of Public Works and Safety of the city, and the Board shall determine the kind and the amount of insurance.
(Prior Code, § 114.06) Penalty, see § 10.99