Initial application for licenses shall be made to the Division of Environmental Quality and shall include the following:

1. (1) A completed application on a form provided by the division;
2. (2) Annual asbestos abatement consultant or asbestos abatement contractor license fee as described in Subpart 16 of this part;

3. (3) Proof that the asbestos abatement contractor has at least one (1) supervisor who:

   1. (A) Qualifies as a contractor/supervisor as determined by this part; and
   2. (B) Has been certified as such by the division in accordance with this part;
4. (4) A completed Disclosure Statement pursuant to 8 CAR § 11-204 on a form provided by the division; and

5. (5) Proof of a minimum of one million dollars ($1,000,000) liability insurance coverage in the form of a certificate of insurance issued by an insurance carrier authorized to do business in Arkansas by the State Insurance Department that must certify the following:

   1. (A) Liability insurance coverage for the types of asbestos services provided, including abatement and inspection work; and
   2. (B) A rider requiring that the insurer shall notify the division in writing within ten (10) working days of any substantive changes made to the policy including, but not limited to, termination or failure to renew, or any reduction of the monetary limits of coverage.