A. Required -- Amounts. No taxicab operator's permit shall be issued until the applicant files with the business license office certificates of insurance with the maximum amount of recovery not less than the following sums:
1. For the injury to any one person, or the death of any one person in any one accident, one hundred thousand dollars;
2. For the injury of two or more persons, or the death of two or more persons, or the injury to one person or more and death of one person or more in any one accident, three hundred thousand dollars; and
3. For the injury or destruction of property in any one accident, fifty thousand dollars.
B. Notice of Cancellation. If any taxicab operator or driver has any notice or information of a change or cancellation of any insurance policy which is required under this chapter, such operator or driver shall give immediate notice to the city clerk or the law enforcement agency of such change or cancellation. (Ord. 528-86 §§ 1, 3 (part); prior code § 11-137(e), (f))