Section 45 IAC 16-1-2 - Insurance coverageAuthority: IC 8-2.1-18-6
Affected: IC 8-2.1-18
Sec. 2.
(a) General Filing Requirements. Every common and contract carrier of passengers and/or property for hire by motor vehicle over the highways of the state of Indiana, in intrastate and/or interstate commerce shall, subject to the approval of the commission, file with and keep in effect and on file Uniform Motor Carrier Bodily Injury and Property Damage Liability Certificate of Insurance (commonly known as Form E Indiana) covering public liability, property damage, loss to cargo subject to the exceptions and minimum amounts hereinafter set out. (b) Public Liability and Property Damage Coverage. The minimum amounts for public liability and property damage coverage shall be those contained in Title 49, Code of Federal Regulations, Part 387. (c) Coverage for Loss or Damage to Cargo. The minimum amounts of coverage for loss or damage to cargo shall be those contained in Title 49, Code of Federal Regulations, Part 1043. (d) Self-Insurers. (1) Qualifications; Discretion of Commission. The commission may, in its discretion, allow common carriers to qualify as self-insurers, if such carriers furnish true and accurate verified statements of their financial condition and other evidence which will establish to the satisfaction of the commission the ability of such carriers to satisfy their obligations for public liability, property damage and loss or damage to cargo in not less than the respective minimum amounts set out in subsections (b) and (c) of this section without affecting the stability or permanency of the business of such carriers. (2) Carriers Engaged Only in Interstate Commerce. A carrier engaged only in interstate commerce within the borders of the state of Indiana, who has been qualified as a self-insurer under the rules and regulations of the Interstate Commerce Commission shall, in lieu of the verified statement of financial condition required above, submit to this commission a certified copy of the currently effective Interstate Commerce Commission order authorizing such motor carrier to self-insure under the provisions of the Interstate Commerce Act. (3) Annual Proof Required. Each motor carrier shall, on or before January 31 of each year, and prior to the purchase of P.S.C.I. identification stamps, file with the commission, evidence of its financial condition sufficient to establish continuing compliance with this rule. Failure to do so shall result in the immediate suspension of said carrier's authority, with revocation thereof to occur upon failure to comply within thirty (30) days of the date of the suspension order. (e) Forms. Endorsements for certificates of insurance, bonds, indemnity undertakings, other surety agreements and applications to qualify as a self-insurer shall be on such forms as from time to time may be prescribed and approved by the commission. (f) Issuance in Name of Certificate or Permit Holder. Certificates of insurance, bonds, indemnity undertakings and all other securities and agreements shall be issued in the full and correct name of the individual, firm or corporation to the P.S.C.I. certificate, permit or license has been or is to be issued; in case of partnerships, all partners must be named. (g) Cancellation. Agreements filed in compliance with 170 IAC 2-1 and the laws of the state of Indiana shall contain an endorsement that the same will not be cancelled or withdrawn until after the commission has been given thirty (30) days' notice in writing at its office in Indianapolis, Indiana, which thirty (30) day period shall commence to run from the date such notice actually is received by the commission. (1) Forms. Cancellation shall be on such forms as from time to time may be prescribed and approved by the commission. (2) Automatic Revocation of Prior Certification. Any certification of insurance coverage filed in compliance with this rule shall automatically revoke or terminate any such insurance certification previously made on behalf of the motor carrier and compliance with this rule shall be based solely on the last insurance certification filed on behalf of such carrier. (3) Filings on an Until-Cancelled Basis. All filings pursuant to this rule shall be on an "until-cancelled" basis. (h) Suspension and Revocation for Failure to Keep Insurance on File. Upon the failure or refusal of any motor carrier to keep surety bonds, certificates of insurance, indemnity undertakings or other securities or agreements on file with the commission as provided for in subsections (b) to (e) of this section, inclusive, the carrier's certificate or permit and all operations thereunder shall be suspended for a period of thirty (30) days by order of the commission. During said suspension period the certificates of insurance, indemnity undertakings or other securities or agreements shall be filed with and be subject to the approval of the commission, which filing and approval by the commission automatically shall act as a termination of the suspension and reinstatement of the certificate or permit of the carrier. If said filing and approval are not made during said thirty (30) day suspension period, then at the end of said period the certificate or permit of the carrier shall be permanently cancelled and revoked without further order of the commission, shall not be subject to reinstatement and appropriate entry shall be made on the records of the commission. (i) Notification of Change of Address. Ten (10) days after a change of address a carrier shall notify the director of such change in writing on such form as from time to time may be adopted by the commission for such purpose. Failure to comply with the requirements set out in this paragraph may be grounds for suspension or revocation of the carrier's authority by the commission. Department of State Revenue; No. 32257: Motor Carrier Department Rule 2; filed Jul 22, 1970, 9:15 am: Rules and Regs. 1971, p. 247; No. 33612; filed Aug 5, 1974, 2:30 pm: Rules and Regs. 1975, p. 528; filed Nov 20, 1986, 1:24 pm: 10 IR 862Transferred from the Indiana Utility Regulatory Commission ( 170 IAC 2-1-2) to the Department of State Revenue ( 45 IAC 16-1-2) by P.L. 72-1988, SECTION 12, effective July 1, 1988.