(A) EASI shall maintain the following minimum insurance:
(1) Automobile liability insurance in an amount not less than $100,000 for injury to or death of, one person, by reason of the carelessness or negligence of the driver of such ambulance; $300,000 for injury to, or death of, more than one person, resulting from any single accident, by reason of the carelessness or negligence of the driver of such ambulance; and $50,000 for damage to property resulting from any single accident, by reason of the carelessness or negligence of the driver of such ambulance, issued by an insurance company licensed to do business in the state for each and every ambulance owned or operated, or both owned and operated by the ambulance authority, providing for the payment of damages:
(a) For injury to or death of individuals in accidents resulting from any cause for which the owner of the vehicle would be liable on account of liability imposed on him by law, regardless of whether the ambulance was being driven by the owner or his agent; and
(b) For the loss or damage to the property of another under like circumstances.
(2) Uninsured motorist coverage in an amount equal to the bodily injury liability limits as set forth in division (A)(1) above.
(3) Malpractice insurance providing a limitation on each claim of not less than $500,000.
(4) A $1,000,000 umbrella policy providing additional coverage to all underlying liability policies.
(B) The insurance policies shall be submitted to the City Attorney for approval. Satisfactory evidence that such insurance is at all times in force and effect shall be furnished to the City Attorney, in such form as he may specify.
(C) Every insurance policy required hereunder shall contain a provision for continuing liability thereunder to the full amount thereof, notwithstanding any recovery thereon, that the liability of the insurer shall not be affected by bankruptcy of the assured, and that until the policy is revoked or expires, the insurance company will not be relieved from liability on account of nonpayment of premium, failure to renew license at the end of the year, or any act or omission of the name assured. Such policy of insurance shall be further conditioned for the payment of any judgments up to the limits of the policy recovered against any person other than the owner, his agents, or employee, who may operate the same with the consent or acquiescence of the owner.
(D) Every insurance policy shall extend for the period to be covered by the license applied for, and the insurer shall be obligated to give not less than 30 days written notice to the insured before any cancellation or termination thereof earlier than its expiration date. The cancellation or other termination of any such policy shall automatically revoke and terminate the permits issued for the ambulances covered by such policy, unless another insurance policy complying with the provisions of this section is provided and in effect at the time of such cancellation or termination.
(Ord. 507, passed 2-20-18)