07-77 Amend 769.05 (a) Business - require insurance for taxis

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ORDINANCE NO. 7-77 BY: Messrs. Chinnock, Magnotto, McBride, Salmon, Sinagra, Usher, Brockman AN EMERGENCY ORDINANCE to amend paragraph (a) of Section 769.05 of the Business Regulation Code of the Codified Ordinances of the City of Lakewood relating to the nature and extent of insurance coverage required to be furnished by taxicab companies operating taxicabs within the City of Lakewood. WHEREAS, Section 769.05 of the Business Regulation Code of the Codified Ordinances of the City of Lakewood, which provides in part for the nature and limits of insurance coverage required to operate taxicabs in the City of Lakewood was passed by the Council of the City of Lakewood on June 2, 1947 nearly 30 years ago, and ' WHEREAS, it is deemed by the Council of the City of Lakewood that in these current times it is necessary that the operators of such taxicabs not only have higher limits of coverage for bodily injury and property damage liability but also to have coverage for damages for injury caused by uninsured motorists and medical payments coverage, and WHEREAS, this Ordinance constitutes an emergency measure providing for the usual daily operation of a municipal department; now, therefore, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That paragraph (a)' of Section 769.05 of the Business Regulation Code of the Codified Ordinances of the City of Lakewood which now reads as follows: 769.05 INDEMNITY (a) No certificates shall be issued, nor shall any taxicab be operated on the streets of the City, until such taxicab company has filed with the Director a casualty insurance policy in an insurance company having an A-A rating in the current issue of Best's Rating Book, subject to the approval of the Director. Such Policy shall indemnify such taxicab company in the sum of at least five thousand dollars ($5,000) for injury or death to one person, ten thousand dollars ($10,000) for injury or death Fo more than one person in the same accident and one thousand dollars ($1,000) for property damage in any one accident through the operation of the taxicab of such company. be and the same is hereby amended to read as follows: 769.05 INDEMNITY (a) No certificate shall be issued, nor shall any taxicab be operated on the streets of the City until such taxicab company has filed with the Director a casualty insurance policy in an insurance company having not less than a rating of "A" and not less than Class XIV as rated in the current issue of Best's Rating Book, subject to the approval of the Director. Such policy shall protect such taxicab company from claims in an amount not less than the following limits: Bodily Injury Liability: one hundred thousand dollars ($100,000) for injury or death to one person, three hundred thousand dollars ($300,000) for injury or death for each occurrence; Property Damage Liability: one hundred thousand dollars ($100,000) for each occurrence; Automobile Medical Payments Coverage: five thousand dollars ($5,000) for each person; Uninsured Motorists Coverage in the amount of one hundred thousand dollars ($100,000) for injury or death to one person and three hundred thousand dollars ($300,000) for injury or death for each occurrence.