N.M. Code R. § 19.8.14.1414 – Terms and Conditions for Liability Insurance

A. The director shall require the applicant to submit as part of its permit application a certificate issued by an insurance company authorized to do business in the United States certifying that the applicant has a public liability insurance policy in force for the surface coal mining and reclamation operations for which the permit is sought. Such policy shall provide for personal injury and property damage protection in an amount adequate to compensate any persons injured or property damaged as a result of the surface coal mining and reclamation operations, including the use of explosives, and who are entitled to compensation under the applicable provisions of state law. Minimum insurance coverage for bodily injury and property damage shall be $300,000 for each occurrence and $500,000 aggregate.
B. The policy shall be maintained in full force during the life of the permit or any renewal thereof, including the liability period necessary to complete all reclamation operations under 19.8.14 NMAC.
C. The policy shall include a rider requiring that the insurer notify the director whenever substantive changes are made in the policy including any termination or failure to renew.
D. The director may accept from the applicant, in lieu of a certificate for a public liability insurance policy, a commitment to self-insure for bodily injury and property damage, if the director has approved a self-bond for the applicant in accordance with 19.8.14.1410 NMAC.
[11-29-97; 19.8.14.1414 NMAC - Rn, 19 NMAC 8.2.14.1414, 9-29-2000; A, 12-31-2007]