§ 102-59. Insurance.

(a)

Any applicant for a license required under this division shall, before the license can be issued, procure, maintain and furnish proof of financial responsibility as required by law and as prescribed in this section. The applicant shall keep in full force and effect during the entire term of his license a policy of commercial automobile liability insurance, insuring the public against any loss or damage that may result to any person or property from the operation of such vehicle. Insurance coverage means an insurance policy or a certificate of insurance covering all taxicabs of the insured, insured by a company licensed to do business in the state. The insurance company shall be of sufficient assets, with an agent in the state upon whom service of process may be made, and shall be approved by the city attorney. Every insurance policy and certificate of insurance must contain a provision or an endorsement requiring that the city clerk shall be given at least 30 days' written notice prior to the date of cancellation before such policy may be cancelled by the insurer for any cause.

(b)

In lieu of the insurance required in subsection (a) of this section, an applicant for a license required under this division may provide proof that the applicant has qualified as a self-insurer, as the term is defined in the Texas Motor Vehicle Safety Responsibility Act as now in force or hereafter amended, and has all required limits as mandated by such act.

(c)

If the city attorney determines that the commercial automobile liability insurance provided for in subsection (a) of this section or the self-insurance allowed in subsection (b) of this section has become impaired and requires new and additional limits or coverage, the city attorney shall require such additional limits or coverage in such company as he may feel is required to insure a faithful performance by the operator of taxicabs and his agents, servants and employees, as well as a payment by such operator of taxicabs, his agents, servants and employees or because of the violation by the operator of taxicabs, individually or through his agents, servants or employees, of any city ordinance or any of the laws of the state or of the United States.

(d)

If the insurance coverage or limits required in subsections (a) or (b) of this section is cancelled or reduced and no insurance policy or certificate is filed by the owner or taxicab operator before the effective date of such cancellation or the reduction, the license to operate taxicabs granted to such person shall be automatically revoked.

(Code 1967, § 29-18; Ord. No. 6926, § 1, 2-10-94; Ord. No. 7920, § 4, 3-13-97; Ord. No. 9261, § 1, 11-6-01; Ord. No. 10,811, § 2, 1-24-08)