Section 140IAC4-1.5-2. Insurance

   (a) The bureau shall review the insurance coverage of each applicant for a driver training school license and shall deny the application unless the owner demonstrates that it has secured a policy of insurance that contains the following minimum coverage:

(1) One hundred thousand dollars ($100,000) because of bodily injury to or death of any one (1) person and subject to said limit respecting one (1) person.

(2) Three hundred thousand dollars ($300,000) because of bodily injury to or death of two (2) or more persons in any one (1) accident.

(3) Twenty-five thousand dollars ($25,000) because of injury to or destruction of property in any one (1) accident.

  (b) An owner shall submit a certificate of insurance demonstrating the existence of the minimum coverages provided by this section each time the owner acquires an additional vehicle.

  (c) An owner shall maintain the minimum coverages set forth in this section for all vehicles used by the school during the duration of the owner's license. (Bureau of Motor Vehicles; 140 IAC 4-1.5-2; filed Nov 25, 2014, 3:50 p.m.: 20141224-IR-140140292FRA)