6.20.050 Insurance requirement.
A. A vehicle permit may not be issued unless the business files a certificate of liability insurance from an insurance company authorized to do business in the state of Alaska.
B. Each vehicle shall be insured in the minimum amounts:
1. Liability coverage with limits of not less than $100,000 per person and $300,000 per accident for bodily injury, and not less than $50,000 per accident for property damage; and
2. Uninsured or underinsured motorist coverage with limits of not less than $100,000 per person and $300,000 per accident for bodily injury, and $50,000 per accident for property damage.
C. Every insurance policy or certificate of insurance shall contain a clause obligating the insurer or surety to give the police chief written notice no less than 20 days before the cancellation, expiration, nonrenewal, lapse or other termination of such insurance.
D. A lapse, cancellation, expiration, non-renewal, or termination of insurance coverage shall be a violation of this chapter and shall constitute an automatic suspension of a taxicab permit until the policy is reinstated. (Ord. 14-28(AM) § 2, 2014)