706.8828  Insurance.

1.  Except as otherwise provided in subsection 4, a certificate holder shall file with the Administrator, and keep in effect at all times, a policy of insurance with an insurance company licensed to do business in the State of Nevada.

2.  The insurance policy specified in subsection 1 must:

(a) Provide the following coverage:

 

For injury to one person in any one accident.......................................... $100,000

For injury to two or more persons in any one accident........................... 300,000

For property damage in any one accident................................................... 10,000

 

(b) Contain a clause which states substantially that the insurance carrier may only cancel the policy upon 30 days’ written notice to the certificate holder and Administrator; and

(c) Contain such other provisions concerning notice as may be required by law to be given to the certificate holder.

3.  If an insurance policy is cancelled, the certificate holder shall not operate or cause to be operated any taxicab that was covered by the policy until other insurance is furnished.

4.  A certificate holder to whom the Department of Motor Vehicles has issued a certificate of self-insurance may self-insure the coverage required by subsection 2.

(Added to NRS by 1969, 1242; A 1977, 609; 1979, 1096; 1985, 2002; 1999, 3594; 2001, 2639; 2003, 1203)