Before any license shall be issued to any owner or operator of a limousine or taxicab, or before any renewal of the license shall be granted, the owner or operator shall be required to file with the city secretary, and thereafter keep in full force and effect, a liability policy in a form approved by the state department of insurance, issued by an insurance company duly authorized to transact liability insurance in the state, covering bodily injuries and injury to or destruction of property resulting from the operation of such vehicle.
(1972 Code, sec. 25-66; Ordinance 318 adopted 2/1/1983; 1995 Code, sec. 119.065)
The minimum amount of coverage in a policy of insurance required by this article shall not be less than the following sums:
(1) 
For the injury or death of any one person in any one accident, $15,000.00.
(2) 
For total liability in any one accident or personal injuries or death, $30,000.00.
(3) 
For injury or destruction of property in any one accident, $15,000.00.
(1972 Code, sec. 25-67; Ordinance 318 adopted 2/1/1983; Ordinance 342 adopted 8/20/1985; 1995 Code, sec. 119.066)
The above public liability insurance required by this article shall be for the protection of the passengers of the insured limousine or taxicab and for the public, but shall not cover personal injuries sustained by the servants, agents or employees of the person filing the insurance.
(1972 Code, sec. 25-68; Ordinance 318 adopted 2/1/1983; 1995 Code, sec. 119.067)
All policies of public liability insurance required by this article shall contain a provision for a continuing liability thereon up to the full amount thereof, notwithstanding any recovery thereon.
(1972 Code, sec. 25-69; Ordinance 318 adopted 2/1/1983; 1995 Code, sec. 119.068)
In the event of the return unsatisfied of any execution issued on any final judgment rendered against any limousine or taxicab owner in any suit for damages on account of injury to persons or property occasioned by the operation of any limousine or taxicab, such owner, within ten days after the return of such execution unsatisfied, provided the judgment is still unpaid, shall increase the amount of his insurance by the amount of such judgment, and failing to do so shall forthwith cease the operation of limousines or taxicabs in the city until such additional insurance is deposited or such judgment is paid.
(1972 Code, sec. 25-70; Ordinance 318 adopted 2/1/1983; 1995 Code, sec. 119.069)
(a) 
In the event that any insurer desires to be released from any insurance filed under this article, it may give written notice of such desire to the city secretary at least 30 days before it desires its liability released, and the city secretary shall thereupon give written notice, by personal delivery, or by mail, to the insured and demand that he furnish new insurance by the expiration of the 30-day period above provided for, and shall discharge such first insurer from any liability which shall accrue after the time of approval of such new policy, [and] shall discharge such first insurer after the expiration of such 30-day period.
(b) 
In the event any policy is so cancelled upon the request of the insurer, and no new insurance policy is filed before the cancellation of the original insurance, the license to operate limousines or taxicabs granted to the insured shall be automatically revoked.
(1972 Code, sec. 25-71; Ordinance 318 adopted 2/1/1983; 1995 Code, sec. 119.070)
Neither the city nor any officer thereof shall be held liable for the pecuniary responsibility or solvency of any insurer under the provisions of this article, or in any manner become liable for any sum on account of any such claim or act or omission relating to the insured vehicle, nor shall the liability of the owner of any such vehicle be in any manner limited or changed by reason of the provisions of this article, but the judgment creditors having causes of action secured thereby shall be authorized to sue directly on such policy of insurance without impleading the city, and all persons known to any insurer to have been injured or damaged in the same accident and claiming damages thereunder may be made parties without priority of claim on payment in any suit had or instituted on account of such matter.
(1972 Code, sec. 25-72; Ordinance 318 adopted 2/1/1983; 1995 Code, sec. 119.071)