PURPOSE: This rule describes the requirements for use of insurance or risk retention group coverage for financial responsibility.

1. (1) An owner or operator may satisfy financial responsibility requirements in 10 CSR 20-11.093 by obtaining liability insurance that conforms to the requirements of this section from a qualified insurer or risk retention group. This insurance may be in the form of a separate insurance policy or an endorsement to an existing insurance policy.
2. (2) Each insurance policy shall be amended by an endorsement worded as specified in 10 CSR 20-11 Appendix, Form 3 (see 10 CSR 20-11.115) or evidenced by a certificate of insurance worded as specified in 10 CSR 20- 11 Appendix, Form 4 (see 10 CSR 20- 11.115).
3. (3) Each insurance policy shall be issued by an insurer or a risk retention group that, at a minimum, is licensed to transact the business of insurance or eligible to provide insurance as an excess or surplus lines insurer in this state.

AUTHORITY: sections 319.114, RSMo (Cum. Supp. 1989) and 644.026, RSMo (Cum. Supp. 1993).* Original rule filed Feb. 7, 1991, effective Aug. 30, 1991. *Original authority: 319.114, RSMo (1989) and 644.026, RSMo (1972), amended 1973, 1987, 1993.