135 Ind. Admin. Code 2-7-23

Current through October 31, 2024

Section 135 IAC 2-7-23 - Insurance coverage

Authority: IC 8-15-2-17; IC 8-15-2-17.2; IC 8-15.5-10

Affected: IC 8-15-2; IC 8-15.5

Sec. 23.

An applicant an LCV operating permit shall furnish to the department or the authority a certificate attesting to the fact that there has been secured by the applicant public liability insurance affording coverages of not less than the following:

(1) Five hundred thousand dollars/one million dollars ($500,000/$1,000,000) for all damages arising from bodily injury, including death.

(2) One hundred thousand dollars/five hundred thousand dollars ($100,000/$500,000) for property damage, including damage to toll road property and facilities.

The named insured thereon shall include the department or the authority and their respective officers, agents, and employees, and the certificate shall indicate that the policy contains an endorsement that reads, "The inclusion of the Indiana department of transportation or the Indiana finance authority as an additional named insured shall not exclude coverage of liability of the named insured for damage of property of the additional named insured, or for injury to or death of any person working with or for the additional named insured.". The certificate shall also provide that the coverage under the policy may not be canceled without thirty (30) days prior notice to the department or the authority.

135 IAC 2-7-23

Indiana Finance Authority; 135 IAC 2-7-23; filed Dec 6, 1983, 1:52 p.m.: 7 IR 331; readopted filed Nov 6, 2002, 10:33 a.m.: 26 IR 882; filed May 4, 2006, 12:55 p.m.: 29 IR 2941; emergency rule filed Jun 14, 2006, 10:50 a.m.: 29 IR 3402; readopted filed Sep 20, 2012, 12:24 p.m.: 20121017-IR-135120378RFA