§ 31-206. Financial responsibility and insurance requirements.

(a)

No special transportation services motor vehicle shall be permitted to operate without the operator having first obtained and filed with CSD a certificate of insurance on forms provided by CSD for each vehicle showing automobile liability insurance coverage with limited liability no less than one hundred thousand dollars ($100,000.00) for one (1) passenger and three hundred thousand dollars ($300,000.00) for all passengers for injuries or death arising out of any one (1) occurrence, and fifty thousand dollars ($50,000.00) for damages to property arising out of any one (1) occurrence. Any vehicle with a seating capacity in excess of fifteen (15) shall provide additional minimum limit for injury or death of ten thousand dollars ($10,000.00) per passenger seat of each vehicle.

(b)

The insurance required in this section shall be written by an insurance company authorized to do business in the State of Florida. Such company must be rated no less than "B" as to management, and no less than "Class V" as to financial strength, by the latest edition of Best's Insurance guide, published by A.M. Best Company, Oldwick, New Jersey, or its equivalent, subject to the approval of the Miami-Dade County Risk Management Division; or the company must hold a valid Florida Certificate of Authority as shown in the latest "List of All Insurance Companies Authorized or Approved to do Business in Florida", issued by the State of Florida Department of Insurance and be a member of the Florida Guaranty Fund.

(c)

The certificate of insurance shall be endorsed to provide for thirty (30) days notice by registered mail of any material change, cancellation or expiration. No policy will be accepted for a shorter period than six (6) months.

(Ord. No. 91-130, § 2, 11-5-91)