The extent of the liability of an insurer or surety shall be, as to any one licensed public vehicle, the sum of one hundred thousand dollars ($100,000.00) on account of injuries to or death of any one person in any one accident; and subject to such limit as respects injury to or death of one person, three hundred thousand dollars ($300,000.00) on account of any one accident resulting in injury to or death of more than one person; and fifty thousand dollars ($50,000.00) on account of damage to property in any one accident.