Before any permit shall be issued under this article to any owner or operator of a taxicab, or before any renewal of the permit shall be granted, the owner or operator shall be required to file with the chief of police, 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 or vehicles.
(2000 Code, sec. 7-271; Ordinance adopting Code)
(a) 
The maximum amount of recovery 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, one hundred thousand dollars ($100,000).
(2) 
For total liability in any one accident for personal injuries or death, three hundred thousand dollars ($300,000).
(3) 
For injury or destruction of property in any one accident, one hundred thousand dollars ($100,000).
(b) 
The minimum amount of insurance liability shall never be less than the amount established by the statutes of the state under the Texas Safety Responsibility Act or amendments thereto.
(2000 Code, sec. 7-272)
The public liability insurance required by this division shall be for the protection of the passengers of the insured taxicab and for the public, but shall not cover personal injuries sustained by the servants, agents or employees of the person filing the insurance.
(2000 Code, sec. 7-273)
All policies of public liability insurance required by this division shall contain a provision for a continuing liability thereon up to the full amount thereof, notwithstanding any recovery thereon.
(2000 Code, sec. 7-274)
In the event of the return unsatisfied of any execution issued on any final judgment rendered against any taxicab owner in any suit for damages on account of injury to person or property occasioned by the operation of any taxicab, such owner, within ten (10) 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 taxicabs in the city until such additional insurance is deposited or such judgment is paid.
(2000 Code, sec. 7-275)
(a) 
In the event that any insurer desires to be released from any insurance filed under this article, he may give written notice of such desire to the chief of police at least thirty (30) days before he desires his liability released, and the chief of police shall thereupon give written notice, by personal delivery or by mail, to the insured and demand that he furnish new assurance by the expiration of the thirty-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, or shall discharge such first insurer after the expiration of such thirty-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 permit to operate taxicabs granted to the insured shall be automatically revoked.
(2000 Code, sec. 7-276)
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. All persons known 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 matters.
(2000 Code, sec. 7-277)