Section 13 AAC 60.120 - Insurance and bond requirements(a) Each applicant for a security guard license and each applicant for a security guard agency license must file with the department a certificate of insurance or bond evidencing comprehensive liability coverage for death, injury, false arrest, detention or imprisonment, malicious prosecution, libel, slander, defamation of character and violation of right to privacy in the minimum amount of $100,000 per person and $200,000 per occurrence. Each applicant must also file a certificate of property damage insurance or bond in the amount of $100,000 per occurrence. The certificate must provide that the insurance or bond may not be modified or cancelled unless 30 days' notice of cancellation has been given to the department. Failure to maintain insurance or bond is grounds for revocation of a security guard license or a security guard agency license.(b) If required insurance or bond is provided by an employer, a certificate of proof must be filed with each employee's application for license. If a licensed security guard is no longer covered by employer-provided insurance or bond,(1) the employer shall immediately notify the department in writing; if non-eligibility for employer-provided insurance or bond or employee termination is due to a violation of law that would be cause for license revocation, this information must be included in the notification required by this paragraph; and(2) the security guard shall return the license identification card to the department within 30 days after termination of coverage, unless the security guard is covered by personal insurance or bond that satisfies the requirements in (a) of this section; an individual who is required to return a license identification card under this paragraph may re-obtain the license identification card from the department upon submission of proof of insurance or bond that satisfies the requirements in (a) of this section.Eff. 5/29/77, Register 62; am 12/21/2002, Register 164Authority:AS 18.65.420
AS 18.65.440
AS 18.65.450