§ 588.15. Insurance Requirements

Each peer-to-peer company shall at all times maintain the following insurance coverage which meets all of the following requirements:

(a)

A commercial liability insurance policy shall provide the following minimum coverage for each associated driver of the peer-to peer-company and vehicle from the moment the driver accepts a trip request until the completion of the trip. For the purposes of this requirement, completion of the trip shall mean all passengers have exited the vehicle, paid for the trip, are standing on the sidewalk or on private property, and the driver and passengers have reasonable knowledge to believe that all personal belongings have been removed:

(1)

Not less than one million dollars ($1,000,000) of liability coverage per incident for bodily injury and property damage for an accident involving a driver of a peer-to-peer company;

(2)

Not less than one million dollars ($1,000,000) of underinsured and uninsured coverage per incident for bodily injury and property damage;

(3)

The commercial liability insurance policy shall act as primary and drop down and respond to a claim when the driver's personal motor vehicle insurance policy fails to cover any portion of the claim for any reason.

(b)

A contingent liability insurance policy that shall provide the following minimum coverage for each associated driver of the peer-to peer-company and vehicle while available for hire. For purposes of this requirement, a driver and vehicle is available for hire when the driver is logged onto the online application but has not accepted a trip request:

(1)

Liability coverage of not less than fifty thousand dollars ($50,000) per person and not less than one hundred thousand dollars ($100,000) per incident for bodily injury; and not less than twenty-five thousand dollars ($25,000) for property damage; and

(2)

The contingent liability insurance policy shall respond to a claim when the driver's personal motor vehicle insurance policy fails to cover any portion of the claim for any reason.

(c)

Each policy required by this Section must be current and valid;

(d)

Each policy required by this Section must be issued by an insurance company that is admitted to do business in the state of Ohio or by an eligible surplus lines company or risk retention group, and has a credit rating of no less than "A-" from A.M. Best or "A" from Demotech; and

(e)

Each policy required by this Section shall provide notice of cancellation of insurance to the Director at least ten (10) days prior to the day of cancellation.

(Ord. No. 1376-2014, § 1, 7-21-2014; Ord. No. 3009-2015 , § 20, 1-11-2016; Ord. No. 0249-2016 , § 20, 1-25-2016)